Get Application - Progress Energy

On July 3, 2012, Duke Energy merged with Progress Energy Inc with the Duke Energy name being retained along with the Charlotte, North Carolina, headquarters. Duke announced on June 18, 2013, that CEO Jim Rogers was retiring and Lynn Good would become the new CEO.

Duke Energy Corporation today confirmed the closing of its previously announced merger with Progress Energy Inc., effective July 2, 2012.

Duke Energy said on Tuesday that it had completed its $32 billion merger with Progress Energy, a few hours after South Carolina gave final approval. The move creates the largest electric utility in the United States, with 7.1 million customers in six states in the Southeast and Midwest.

In 2012, Duke Energy and Progress Energy combined their companies, expanding Duke Energy's services to Florida and forming the largest electric utility in the United States.

CHARLOTTE, N.C. (AP) -- Duke Energy says it plans a reverse stock split once it completes its acquisition of Progress Energy as planned on Sunday. With a 1-for-3 reverse stock split, shareholders will get one share for every three shares they now own.

Duke Energy/Progress Energy Merger Effective July 3, 2012, Duke Energy and Progress Energy merged. Immediately prior to completion of the merger, Duke Energy conducted a 1-for-3 reverse stock split.

Progress Energy, headquartered in Raleigh, North Carolina, is a subsidiary of Duke Energy and prior to its merger with Duke Energy was a Fortune 500 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues.

Duke Energy/Progress Energy Merger Effective July 3, 2012, Duke Energy and Progress Energy merged. Immediately prior to completion of the merger, Duke Energy conducted a 1-for-3 reverse stock split.