FirstEnergy to pay $4.7 billion for Allegheny Energy if states OK
Posted on March 15, 2010 at 10:24 AM
FirstEnergy Corp. said Thursday it agreed to pay $4.7 billion to acquire Greensburg-based Allegheny Energy Inc.
The new FirstEnergy, based in Akron, Ohio, would serve 6.1 million customers in seven states. The deal, approved by both companies' boards, still faces regulatory hurdles in Virginia, West Virginia, Ohio, Maryland, New Jersey, New York and Pennsylvania. First Energy would pick up $3.8 billion in Allegheny Energy debt
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