Duke Energy : Progress Energy Dealogic Deal # : 724220
Data as of : 1/10/2011
Target Acquiror Dates & Values
Progress Energy Duke Energy
Target: 100 % stake Buying: 100 % stake Rumored 9th Jan 2011 Deal Value $m 25,814.7
NY PGN 293 m shares outstanding Public (Listed) Announced 10th Jan 2011 Value ex Debt $m 13,614.7
United States United States
Utility & Energy Utility & Energy Expected 4Q 2011 Consideration
Lazard | Advisor JPMorgan | Advisor Completed -
Barclays | Non-Lead Advisor JPMorgan | Fairness Opinion
Lazard | Fairness Opinion BOA Merrill Lynch | Fairness Opinion Withdrawn -
Barclays | Fairness Opinion Wachtell Lipton | Attorney
Hunton & Williams | Attorney Termination Fee, Target $m tbd
Timeline Events Termination Fee, Acquiror $m tbd
Financials 30th Sep 2010
Balance Sheet Debt/Equity: 2.3
Premiums & Multiples
Initial Offer $46.48
Current Offer $46.48
Income Statement
Cash Flows
Operations $m 2,405
Profitability
Profit Margin 13%
Return on Equity 9%
League Table Impact Sector Trend
2010 YTD Announced Global M&A by Deal Value, $bn Monthly Announced Global M&A, $bn: Utility & Energy
1 Barclays Capital 57.2
2 JPMorgan 42.4
3 Goldman Sachs 31.4
4 BOA Merrill Lynch 27.5
5 Lazard 25.8
6 UBS 18.0
7 Citi 18.0
8 Morgan Stanley 9.7
9 Deutsche Bank 6.0
10 Qatalyst Partners 3.6
2010 Dealogic. All rights reserved.