Power giant Duke Energy Corp. is buying the corporate parent Florida’s second largest utility, Progress Energy, Inc., in a stock trade that will create the nation’s largest power company.
Progress shareholders will get about 2.6 shares of Duke stock for each share they have. The transaction is valued at about $13.7 billion.
Progress, which serves 1.6 million Florida customers, including many in the Orlando area, is the second largest electric company in Florida after Florida Power & Light
The News Service of Florida
