Our Website Uses Cookies 

We and the third parties that provide content, functionality, or business services on our website may use cookies to collect information about your browsing activities in order to provide you with more relevant content and promotional materials, on and off the website, and help us understand your interests and improve the website.

For more information, please contact us or consult our Privacy Notice.

Your binder contains too many pages, the maximum is 40.

We are unable to add this page to your binder, please try again later.

This page has been added to your binder.

Covington Advises UBS on $9 Billion Duke Energy Transaction

May 10, 2005

NEW YORK, NY, May 10, 2005 -  Covington & Burling represented UBS as financial advisor to Duke Energy Corp. in its recently announced merger agreement with Cinergy Corp.  The all stock transaction is valued at about $9 billion, with each common share of Cinergy converting to 1.56 shares of Duke Energy.

The newly formed company, called Duke Energy Corporation, will have an estimated $70 billion in total assets and will manage roughly 54,000 megawatts of electric generation both in the U.S. and internationally.

The Covington team included corporate partner J. D. Weinberg and associate Frank London, both based in the New York office.

Share this article: