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Excerpt from our One Page Annotated Wall Street Journal Summary (which you can get emailed to you every morning by signing up here):
WPS Is Far Along In Talks to Buy Peoples Energy
- Summary: Wisconsin utility WPS Resources Corp. (WPS) is in advanced discussions to purchase Chicago gas utility Peoples Energy Corp. (PGL) for about $1.5 billion. Peoples Energy stock is down 13% in the last year while other gas utilities are up 6%, and is trading at 16.7 times current earnings versus 18.9 times for the gas utility group.
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