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FTC Grants Antitrust OK for Duke’s Proposed $5 Billion Piedmont Natural Gas Acquisition

FTC Grants Antitrust OK for Duke’s Proposed $5 Billion Piedmont Natural Gas Acquisition

Duke Energy is one step closer to acquiring natural gas distributor Piedmont Natural Gas

The companies announced Tuesday the Federal Trade Commission granted early termination of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act – one of the conditions for the acquisition’s completion.

In October, Duke announced the proposed $4.9 billion deal.  The transaction is targeted to close by the end of 2016.

Piedmont shareholders and the North Carolina Utilities Commission must still approve the transaction.  Duke and Piedmont are providing acquisition information to the Public Service Commission of South Carolina and the Tennessee Regulatory Authority.