Duke Energy To Acquire Piedmont In Approx. $4.9 Bln Deal - Quick Facts

(RTTNews) - Duke Energy (DUK) and Piedmont Natural Gas (PNY) announced the boards of both companies have approved a definitive agreement for Duke Energy to acquire Piedmont for approximately $4.9 billion in cash. Piedmont shareholders will receive $60 in cash for each share of Piedmont Natural Gas common stock.

Duke Energy will also assume approximately $1.8 billion in Piedmont Natural Gas existing net debt, representing a total enterprise value of approximately $6.7 billion.

Duke Energy expects the transaction to be accretive to its adjusted earnings per share in first full year post-closing. The deal is expected to enhance Duke Energy's long-term 4 to 6 percent earnings per share growth rate target.