No. of Recommendations: 3
From what I read, the purchase will be for stock, so your PGN shares would be converted to Duke shares. Duke administers their own no-fee DRIP (I'm enrolled in it), so you'd likely be given the chance to just join that.

As to Duke having a deal squashed, I don't think that's right; you may be thinking of the deal that Constellation Energy had with FPL Group (now NextEra), which was cancelled. Constellation later acquired Florida Public Utilities (FPU) in late 2009.

Duke has actually done several successful acquisitions/mergers in teh past, having added Panhandle Eastern more than a decade ago and, in 2005(?) merged with Cincinnati-based Cinergy, after which they spun off Spectra Energy (SE) at teh start of 2007.
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