DTE Energy to buy MCN in $2.6 billion deal

Article Abstract:

DTE Energy Co. has reached an agreement to acquire MCN Energy Group in a deal worth $2.6 billion (2.4 billion euors). The deal involves an exchange of cash and shares and comes before the assumption of debts. DTE is the parent firm of Detroit Edison and is the seventh-largest utility in the US. DTE is acquiring MCN for $28.50 per share. MCN is the tenth-largest natural gas utility in the US.

Asset sales & divestitures, Acquisitions & mergers, Electric Utilities, Electric Power Generation, Transmission and Distribution, Gas Thermal Electric Power, Fossil Fuel Electric Power Generation, Mergers, acquisitions and divestments, Abstract, DTE Energy Co., Gas power plants, MCN Energy Group Inc.

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PG&E files plan to reorganize its utility unit

Article Abstract:

PG and E Corp. has filed a bankruptcy plan for its Pacific Gas and Electric Co. subsidiary. The plan involves the reorganization of the unit and is part of the parent firm's efforts to distance itself from California state regulations.

Cases, Finance, PG&E Corp., Bankruptcy

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PG&E wins U.S. approval to restructure

Article Abstract:

PG&E Corp. has been given permission by federal regulators in the US to restructure its corporate operations. The move will protect company assets from its Pacific Gas and Electric Co. unit's creditors.

Management

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