FirstEnergy-Allegheny Energy Merger Filing Clears U.S. Department of Justice Review
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AKRON, Ohio, and GREENSBURG, Pa., Jan. 7, 2011 - FirstEnergy Corp. (NYSE: FE) and Allegheny Energy, Inc. (NYSE: AYE) today were notified that the U.S. Department of Justice (DOJ) completed its review of the companies' proposed merger and has closed its investigation.
"We are pleased to have completed the DOJ review process -- another important step in our merger with Allegheny Energy," said Anthony J. Alexander, President and Chief Executive Officer of FirstEnergy.
"With both key federal clearances now in hand, we're making excellent progress toward this important combination," said Paul J. Evanson, Chairman, President and Chief Executive Officer of Allegheny Energy.
The companies made their Hart-Scott-Rodino filing with the Federal Trade Commission and the DOJ on May 25, 2010.
The merger closing is subject to customary closing conditions, including regulatory approvals, as outlined in the joint proxy statement/prospectus.
The companies have received merger approval from the Federal Energy Regulatory Commission, the Virginia State Corporation Commission and the West Virginia Public Service Commission, and have proposed settlements pending with the Pennsylvania Public Utility Commission and the Maryland Public Service Commission. Shareholders for both FirstEnergy and Allegheny Energy overwhelmingly approved proposals related to the proposed merger.
SOURCE FirstEnergy Corp.
CONTACT: for FirstEnergy: Investors, Ronald Seeholzer, +1-330-384-5415, or Media, Ellen Raines, +1-330-384-5808; or for Allegheny: Investors, Max Kuniansky, +1-724-838-6895, or Media, David Neurohr, +1-724-838-6020
Web Site: www.firstenergycorp.com
