Friday, February 09, 2007

Judge OKs Equitable-Dominion Merger in PA

Pittsburgh Tribune-Review:
An administrative law judge with the state Public Utility Commission has recommended approval of a deal that would turn Equitable Resources Inc. into the largest gas distribution company in Pennsylvania.

The initial decision issued today by Judge John H. Corbett Jr. is a key step in Equitable's plan to acquire Downtown-based Dominion Peoples Gas and a related company in West Virginia, Dominion Hope Gas, for $970 million from Dominion Resources Inc.

Remaining objectors to the controversial deal can file exceptions before the matter goes before the PUC for final approval. The Federal Trade Commission also has been reviewing the acquisition because of its potential effects on competition in areas served by the companies.