Enron, PGC file for merger
Enron Corp. has filed a request with the Oregon Public Utilities Commission seeking authorization to merge with Portland General Corp. (PGC), parent company of Portland General Electric (PGE). “This is not a typical utility industry merger. The key to this particular merger is about continuity and combining the strengths of two successful companies,” said Ken L. Harrison, PGC chairman and CEO.
Under the merger proposal, the PGC management structure will remain in place and PGC will remain headquartered in Portland, Ore. The merger also requires approval from shareholders of both companies and from the Federal Energy Regulatory Commission.