DPL shareholders OK acquisition by AES

Shareholders with DPL Inc. (NYSE: DPL) approved a bid by AES Corp (NYSE: AES) to acquire the Ohio-based company for $4.7 billion.

AES agreed to pay $30 per share in cash to DPL shareholders for a total of $3.5 billion in cash and assume $1.2 billion in net debt.

DPL Inc., the parent company of Dayton Power & Light Co., expects to finalize the deal in late 2011 or early 2012. The acquisition is subject to closing conditions and approvals from the Federal Energy Regulatory Commission and the Public Utilities Commission of Ohio.

Dayton Power & Light will keep its name and remain headquartered in Dayton, Ohio, for at least two years after the merger.

Read more mergers and acquisitions news

Sponsored by FLSmidth

Related Articles

Utility to sell power plants, save customers $300M 


New Hampshire's largest utility on Thursday announced it will sell off its fleet of power plants after months of negotiations with state officials, saying it will save customers at least $300 million.

Solar Frontier to acquire 280MW US solar project pipeline

Solar Frontier, a CIS solar energy solutions company, has entered into a definitive agreement to acquire an 280-MW U.S. solar power project pipeline from Gestamp Solar, a global developer and operator of utility-scale solar power plants.

Follow Power Engineering on Twitter
Latest News
GE names two to leadership positions GE Power & Water Global Research

GE names two to leadership positions

GE (NYSE: GE) announced the appointment of two new company officers.

Preferred bidders picked for new UK nuclear power project

EDF Energy announced more preferred bidders for construction of the Hinkley Point C nuclear p...

Nuclear unit returns to service after water leak repaired

The 600-MW Fort Calhoun nuclear power plant in Nebraska was returned to full power after a le...

Exxon profit falls by half but production rises

Exxon Mobil Corp. profit dropped by half in the second quarter on sharply lower oil and gas p...

NY to give low-cost electricity to Amazon, Bausch & Lomb

New York state is giving low-cost electricity to 15 businesses around the state as part of a ...
TEPCO executives face charges in Fukushima accident

3 ex-TEPCO execs to face criminal charges

A Japanese judicial committee has decided that three former utility executives should face cr...
07/29 Henry Hub Average Natural Gas Spot Prices

07/29 Henry Hub Average Natural Gas Spot Prices

The Henry Hub is the pricing point for natural gas futures contracts traded on the New York M...

GE wind turbines to power British Columbia’s largest wind farm

GE today confirmed it will supply Pattern Development with 61 wind turbines for its 180-megaw...

Power Engineering Current Issue

02/01/2015
Volume 119, Issue 2
1502PE-cover
Products Showcase
Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015

Buyers Guide Categories

Power Industry Wire News

Vantage Drilling Company Schedules Second Quarter 2015 Earnings Release Date and Conference Call

Vantage Drilling Company Schedules Second Quarter 2015 Earnings Release Date and Confer...

EnerJex Resources Declares Monthly Cash Dividend on 10% Series A Preferred Stock

EnerJex Resources Declares Monthly Cash Dividend on 10% Series A Preferred Stock

FX Energy Schedules Second Quarter 2015 Financial and Operating Results Conference Call

FX Energy Schedules Second Quarter 2015 Financial and Operating Results Conference Call

Scorpio Bulkers Inc. Announces Purchase of 1,050,000 Common Shares by Scorpio Service Holdings Limited

Scorpio Bulkers Inc. Announces Purchase of 1,050,000 Common Shares by Scorpio Service H...

Magellan Petroleum Regains Compliance With NASDAQ Listing Requirements

Magellan Petroleum Regains Compliance With NASDAQ Listing Requirements

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>