Tuesday, December 05, 2006

Shareholders Approve Duquesne Deal

Pittsburgh Business Times:

Duquesne Light Holdings Inc. said Tuesday its shareholders have approved the company's $3.15 billion acquisition by a consortium led by Macquarie Infrastructure Partners and Diversified Utility and Energy Trusts. The deal values each share of Pittsburgh-based Duquesne at $20 in cash.

Duquesne Light said its headquarters will remain in Downtown Pittsburgh.

Duquesne Light also said regulatory review of the deal by the Public Utility Commission and the Federal Energy Regulatory Commission is in its initial stages, and believes the deal could be approved by June.