First Energy is buying rival power provider Allegheny Energy for about $4.7 billion in stock
By APThursday, February 11, 2010
First Energy buying power rival Allegheny Energy
NEW YORK — First Energy says it is buying rival power provider Allegheny Energy for about $4.7 billion in stock.
The combination would create a regional energy provider with about $16 billion in annual revenues.
The combined company would provide electric service to more than six million customers in Pennsylvania, Ohio, Maryland, New Jersey, New York, Virginia and West Virginia.
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