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Duke Energy's Pending Acquisition Of Piedmont Natural Gas Has 'Cleared A Key Condition'

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Shares of Duke Energy Corp (NYSE: DUK) were trading higher by nearly 1 percent at $70.43 on Tuesday afternoon. At the same time, shares of Piedmont Natural Gas Company, Inc. (NYSE: PNY) were higher by 0.30 percent at $56.90.

Duke Energy and Piedmont Natural Gas announced earlier Tuesday that Duke's proposed acquisition of Piedmont has cleared a "key condition needed for completion." The Federal Trade Commission has also granted early termination of the 30-day waiting period with regard to the acquisition.

According to the joint press release, expiration or termination of the waiting period is one of the conditions required for the transaction to complete.

Finally, both Duke Energy and Piedmont Natural Gas expect the transaction to close by the end of 2016.

 

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Posted-In: duke energy FTC Piedmont Natural GasM&A News Intraday Update

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