|Wonder if we see more of these mergers?|
Utilities PPL, Avangrid in merger talks - FT
Oct. 14, 2019 8:15 AM ET|About: PPL Corporation (PPL)|By: Carl Surran, SA News Editor
PPL Corp. (NYSE: PPL) and Avangrid (NYSE: AGR) are in talks to combine their businesses, in a deal that would create one of the largest publicly traded utilities in the U.S. if it completes, Financial Times reports.
AGR, the third biggest U.S. wind power provider, serves 3.1M customers in upstate New York and New England, while PPL covers 1.4M customers in 29 counties.
It is unclear whether a deal would include an investment from Spanish utility Iberdrola ( OTCPK:IBDRY), which owns more than 80% of AGR.