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Stock Market & Financial Investment News

News Breaks
June 10, 2014
05:29 EDTPPLPPL Corp., Riverstone to combine merchant power generation businesses
PPL Corporation and Riverstone Holdings announced a definitive agreement to combine their merchant power generation businesses into a new stand-alone, publicly traded Independent Power Producer, or IPP. The new company, which will own and operate a diverse mix of 15,320 megawatts of generating capacity in key U.S. competitive energy markets, will be called Talen Energy Corporation. Under the terms of the agreement, at closing, PPL Corporation will spin off PPL Energy Supply, the parent company of PPL Generation, and PPL EnergyPlus, to shareowners of PPL and then immediately combine that business with Riverstone's generation business to form Talen Energy Corporation, an independent publicly traded company expected to be listed on the NYSE. Upon closing, PPL Corporation's shareowners will own 65% of Talen Energy and Riverstone will own 35%. PPL Corporation will have no continuing ownership interest in Talen Energy. PPL Corporation's shareowners will receive a pro-rata distribution of Talen Energy shares at closing based on the number of PPL Corporation shares owned as of the spinoff record date. The spinoff will have no effect on their ownership of PPL Corporation common stock and there will be no change in the number of shares of PPL Corporation common stock outstanding. The transaction is designed to be tax-free to PPL Corporation and its shareowners.
News For PPL From The Last 14 Days
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September 30, 2014
16:16 EDTPPLDynegy, Exelon, NRG Energy upgraded at ISI Group
ISI Group said capacity market improvements could overcome gas basis concerns for the independent power producers it covers. The firm raised its ratings on Dynegy (DYN) and Exelon (EXC) to Buy, upped its rating on NRG Energy (NRG) to Strong Buy and reiterated its Buy rating on PPL Corp. (PPL). ISI kept a $34 price target on Dynegy, kept a $36 target on PPL Corp., raised its price target Exelon to $39 from $33 and hiked its target NRG to $40 from $34.
15:22 EDTPPLPPL Corp. sale of hydroelectric facilities approved by Montana PSC
PPL Montana’s agreement to sell its hydroelectric facilities to NorthWestern Energy has received final approval from the Montana Public Service Commission, the company announced. The commission issued a final order Friday, Sept. 26, approving the transaction, which includes PPL Montana’s 11 hydroelectric power plants and Hebgen Lake reservoir. The PSC action follows prior approvals from the Federal Energy Regulatory Commission, as well as the necessary clearance from the antitrust enforcement agencies. Before the transaction can close, NorthWestern must file with FERC and obtain approval of certain financing transactions. FERC review of that filing is expected to take 30-60 days. The purchase price for the hydroelectric generating facilities is $900M in cash, subject to certain adjustments. PPL Corporation estimates its total net cash proceeds of the sale will be approximately $880M.
10:02 EDTPPLOn The Fly: Analyst Initiation Summary
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09:28 EDTPPLPPL Corp. initiated with a Buy at Hilliard Lyons

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