Merger of Progress and Duke coming down to the wire

Progress Energy and Duke Energy expect federal regulators to decide this week whether to approve their merger plan, which would create one of the nation’s largest utilities.

The Federal Energy Regulatory Commission is under no obligation to respond to the request by Progress and Duke for a decision by Friday, but in recent days the two companies have been notifying employees that they soon expect to close the merger deal.

The merger agreement between the two utilities expires July 8, although the companies could agree to extend it. In addition to federal regulators, state utility commissions in the Carolinas also must approve the deal.

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