If approved by state and federal regulators, the combined company will provide service to about 7.1 million electric customers in six regulated service territories – North Carolina, South Carolina, Florida, Indiana, Kentucky and Ohio.
The new company will also have about 57GW of domestic power generating capacity from a diversified mix of coal, nuclear, natural gas, oil and renewable resources.
Duke Energy shareholders have approved a one-for-three reverse stock split as well as the issuance of Duke common stock to Progress Energy shareholders upon closing of the merger transaction.
The reverse stock split is designed to reduce the number of outstanding Duke Energy shares.
