CHARLOTTE, N.C. – Shareholders of Piedmont Natural Gas (NYSE: PNY) today voted to approve the company's acquisition by Duke Energy (NYSE: DUK) during a specially called meeting of shareholders at Piedmont's corporate offices in Charlotte.
The proposal to approve the acquisition was supported by 66.8% percent of the company's outstanding shares entitled to vote.
The companies filed for approval of the proposed acquisition with the North Carolina Utilities Commission and filed with the Tennessee Regulatory Authority to transfer Piedmont's Tennessee operating license on Jan. 15, 2016.
The Federal Trade Commission has granted early termination of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act with regard to the acquisition.
Duke Energy and Piedmont Natural Gas are targeting to close the transaction by the end of 2016.
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural gas to more than one million residential, commercial, industrial and power generation utility customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are wholesale customers. Our subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, and regulated interstate natural gas transportation and storage, and regulated intrastate natural gas transportation businesses. More information about Piedmont Natural Gas is available on the Internet at http://www.piedmontng.com/.
SOURCE Piedmont Natural Gas
CONTACT: David Trusty, Piedmont Natural Gas, 704.731.4391
Web Site: http://www.piedmontng.com