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Connecticut Energy Gets DPUC Approval
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Business New Haven
1/10/2000
By: BNH
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BRIDGEPORT - The Connecticut Energy Corp. (NYSE: CNE) and Energy East Corp. (NYSE: NEG) have received merger approval from the state's Department of Public Utility Control (DPUC). Shareholders of Connecticut Energy shares are expected to receive $42 per share, with half payable in cash and half in stock, once the $617 million deal is closed. The companies are awaiting approval from the Securities & Exchange Commission.
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