Progress Energy to be bought for 5.8 billion

Progress Energy to be bought for 5.8 billion

www.npr.org

The week started with news of two big corporate deals. DuPont, a major chemical company, said it would buy a Danish food maker for $5.8 billion. Duke Energy Corp. said it will buy Progress Energy Inc. in a $13 billion deal that would create one of the country's largest utilities. Duke fell 1.2 percent to $17.58.

(visit the link for the full news article)

So Ashley Turton, director of congressional affairs for Progress Energy was just found dead in a burning car and then I hear about this on the way home! What the hell is going on with 2011!! I'll post more as I know more! I just heard this on the local NPR affiliate. There was no mention on the radio of Mrs Turtons death, you would think that it would be big news that something of that kind of connection just took place.

www.npr.org
(visit the link for the full news article)

Ashley Turton dead in burning car, ATS Thread

Mod can you edit the headline to reflect that the deal was a 13 billion dollar deal and not 5 as I wrongly put. Sorry about that folk, hope to get it fixed soon!

With so many killings and suspicious deaths of high profile persons in the past few weeks I have to wonder if there is some kind of corporate coup taking place.

I normally wouldn't make such a scandalous claim without some kind of evidence. But it has crossed my mind.

reply to post by JohnnyTHSeed


I know, and we are only 10 days into the decade! It does seem really fishy. Note that stocks fell for Duke after the announcement of the merger. I wonder is the stock holders took the death into account today?

I'm more worried about a CHEMICAL company buying a FOOD company. What the flux?

reply to post by OneLife


Oh that kind of stuff happens all the time, it's really an investment. Du pont is always out to get into other ventures and make more money.

Originally posted by OneLife
I'm more worried about a CHEMICAL company buying a FOOD company. What the flux?

When I read the ingredients on my packaged foods some of them sound more like a list of chemicals, including names of preservatives and additives I can barely pronounce.

If you make all those chemicals you have to put them somewhere I guess!

I know someone who works at progress energy, I'll have to ask them what they think about this deal.

reply to post by Obinhi


It's normal for the purchasing company's stock to drop after a merger(I have a degree in finance, not that you need that to know that). Also does any of this have anything to do with Monsanto, I don't know, just throwing it out there.

reply to post by 11PB11


Oh I did not know that, thanks for the head up. If you dont mind, why does it drop? Is it because more stock is on the market under one company at the time of the merger? Dont know if that'll come across correctly, but its as close to what I mean as I can get.