Duke to buy LG&E?

[Special ED]

The rumors are flyin again and its been on the news here the past couple of nights.. LG&E nor Duke have made any offical statements.. Just wondering if any Duke brothers know anything?

[AEPline]

rumor has it that AEP is considering buying Louisville

[southernindianalineman]

well i heard the mayor say that the city of louisville is going to get a loan for i think its was 6 billon. witch i dont know how they are going to do it and if they do it will bad news for lg&e and ku.

[willy]

Not real sure what is going to happen, but Duke is thinning out the middle management again. This has always happened in the past either post merger/buy out or pre merger/buy out. Former Duke employee with many friends that I talk with.

[topgroove]

LG&E and Kentucky Utilities are reportedly for sale and Duke Energy is one of the top bidders.
The New York Times reports the bid could be as much as $6 billion.
E-on, a European company has owned LG&E and Kentucky Utilities since 2002.
LG&E is e-on's U.S. headquarters. The Louisville Utility and Kentucky Utilities, which serves Lexington and other nearby counties, employ a total of 3000 workers.
LG&E and Kentucky Utilities have more than 900,000 customers, almost all of them in Kentucky.
When we reached a spokesperson tonight, she said she could neither confirm nor deny the reports.
The mayor's office said it has not been told of anything pending with LG&E.

I guess it all depends on how much cash Duke can come up with. There's not a chance in hell they'll get financing for $6 billion. How much stock are the willing to part with. It would be a tough sell to the shareholders. Revenue for utilities have been shrinking the last couple years, if they can swing this deal I'll be amazed.

[Special ED]

The city originally owned LG&E then sold it.. THey have tried in the past to buy it back and it just isn't possible for them. THey are talking about trying again and I just dont see how they could possibly do it. I'm a contractor for LG&E and rumors are Duke is comming to town... I guess its good cause we get rid of the germans that own the place but Duke and Pike go hand in hand so that could be bad for us union guys.

[topgroove]

I Agree Ed. I never was a fan of Duke.

[AEPline]

I asked an upper management guy about this---all he would say is that it would be an easy transition because aep is already in Kentucky---he led me to beleive that he knew more than he said. For what it is worth

[Special ED]

News announcement was just made and PPL has bought all of E-On US.. Dont know much about PPL but its gotta be better than Pike loving Duke buying them..