FirstEnergy To Acquire Allegheny Energy

FirstEnergy Corp. (NYSE: FE) will acquire Allegheny Energy Inc. (NYSE: AYE) in an all stock deal valued at approximately $4.7 billion to create a new company with over 6 million customers and $16 million in revenue each year. Shares of FirstEnergy fell $1.87 to close at $39.59 while Allegheny stock climbed $2.53 to close at $23.55.

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