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

Shares of

were trading higher by nearly 1 percent at $70.43 early Tuesday afternoon. At the same time, shares of

were higher by 0.30 percent at $56.90. Duke Energy and Piedmont Natural Gas both

earlier on 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.