PUCO clears AES-Dayton Power merger, with conditions
Columbus Business First
The final hurdle has been cleared in a $3.5 billion merger between DPL Inc. and AES Corp. as the Public Utilities Commission of Ohio approved the marriage of the two companies, the Dayton Daily News reports. DPL (NYSE: DPL) and its Dayton Power and Light Co. subsidiary will be absorbed by Arlington, Va.-based AES (NYSE: AES) in a deal that will cost AES $30 a share and the assumption of $1.2 billion in debt, the newspaper reports. The agreement stipulates that AES not pass on negotiation expenses to Dayton rate payers, keep the Dayton…
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