Power Companies in Northeast to Merge in $2.5 Billion Deal
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The deal between Astoria Generating Holdings and EBG Holdings would create a company that serves both New York City and the Boston area.
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The Spanish power company Iberdrola SA plans to buy regional utility owner Energy East Corp. for $4.5 billion in cash, giving it a foothold in the United States, the companies said yesterday.
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The gas and electric company Dominion Resources said that it would sell some of its operations in the United States for a combined $6.5 billion.
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Exelon Corp. is acquiring Public Service Enterprise Group Inc. in a &#36;12 billion stock deal that would create the nation's largest power generation company with customers in Illinois, New Jersey and Pennsylvania.
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The proposed merger of Public Service Enterprise Group and Exelon will result in the elimination of 900 jobs in New Jersey, most of them at the PSEG unit that operates three nuclear power plants in Salem County.
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An IBM-led group will spend $2.5  billion to build an advanced semiconductor plant and perform  related research projects in upstate New York, the state's  governor, George Pataki, announced on Wednesday.
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National Grid Transco agreed one of the largest cash deals in recent corporate history yesterday with the sale of four of its eight gas distribution networks for Â£5.
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US energy firm Exelon Corp agreed to pay about $US12.5 billion ($16.37 billion) dollars to buy Public Service Enterprise Group Inc (PSEG), creating the biggest US power group, the firms said overnight.
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Lithuania and Poland are to sign a deal to link their power grids - an important step in Baltic-EU integration.
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Penn National Gaming Inc. has offered to buy Argosy Gaming Co. in a deal valued at $2.2 billion that would create the third-largest gaming company in the United States, the companies said after the market closed Wednesday.
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Allegheny Energy Inc. (AYE.N: Quote, Profile, Research) on Tuesday said it agreed to sell an Illinois power plant to energy buyout firm ArcLight Capital Partners for $173 million and will use the proceeds to reduce debt.
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The door maker will go private in a $2.5 billion deal.
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Two of the nation's most well-known companies today said they would combine to form the third-largest U.S. retailer.
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Seven years after the parent companies of three Eastern Massachusetts electric utilities merged to become NStar Electric, NStar has finally merged the utilities themselves. That will mean a small rate break for old Boston Edison Co. customers, but rate increases of $2 to $4 a month for many Cambridge and Cape Cod customers.
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The Exelon Corporation, the owner of utilities in northern Illinois and eastern Pennsylvania, said yesterday that it would buy the Public Service Enterprise Group of New Jersey in a deal valued
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NEW YORK -- Northeast Utilities , UIL Holdings Corp. , and New England's grid operator have proposed changes to a planned power line in Southwest Connecticut that would increase costs by more than 40 percent.
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Executives told The New York Times the two companies may be set to merge.