FirstEnergy-Allegheny merger filing receives federal approval
- January 10, 2011
FirstEnergy Corp. and Allegheny Energy are another stop closer to the companies’ proposed merger.
The U.S. Department of Justice reviewed and approved the plan for FirstEnergy to buy Allegheny Energy for $4.7 bilion. The proposal has cleared both major federal approvals needed and also received approval from regulator commissions in Virginia and West Virginia. Approvals are pending in Pennsylvania and Maryland.
Shareholders for both firms have supported the merger.