Saturday, September 30, 2006

Progress Energy

Charlotte Observer via Topix:
Progress Energy's stock was nearly unchanged late Friday afternoon, a day after another published report on Wall Street said that the Raleigh utility is in talks to be acquired.

SparkSpread reported that Atlanta-based Southern Co. and Progress Energy 'are understood to be in advanced merger discussions' to join forces and create one of the largest utilities in the United States. The report was based on an unidentified industry source and spurred six times the usual volume of trading in Progress shares Thursday.