Bloomberg News

Duke Says March Earliest It May Close Progress Deal

December 15, 2011

(Corrects city where Duke Energy is based in first paragraph.)

Dec. 15 (Bloomberg) -- Duke Energy Corp. says March is the earliest it may close a deal to buy Progress Energy Inc. after U.S. regulators questioned a plan it put forth to mitigate competition concerns, the Charlotte, North Carolina-based company said in a statement today.

Duke had said it expected federal and state regulatory approvals in time to close the takeover by Jan. 1.

--Editor:

To contact the reporter on this story: Jim Polson in New York at jpolson@bloomberg.net

To contact the editor responsible for this story: Jasmina Kelemen at jkelemen2@bloomberg.net


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