Duke Energy has closed its stock offering to raise money for its proposed purchase of Piedmont Natural Gas. Based on the terms at the closing, Duke should get proceeds of almost $743 million from the stock sale before expenses. Money from the stock sale will got to defray the costs of the $4.9 billion deal to buy Piedmont Natural Gas. Duke announced last week that it would participate in a forward sale to a group of bank underwriters of at least 9.25 million shares to raise cash for the purchase.…
from Charlotte Business News - Local Charlotte News | Charlotte Business Journal http://www.bizjournals.com/charlotte/blog/energy/2016/03/duke-energy-closes-stock-sale-connected-to-its.html
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