MidAmerican and Constellation file request for merger approval - 0 views
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Energy Net on 18 Oct 08MidAmerican and Constellation filed a request with the Federal Energy Regulatory Commission, or FERC, October 14 seeking approval of their planned merger, continuing their string of applications for federal approvals needed to complete the union. They asked the Federal Energy Regulatory Commission to act on the application by January 15. Under the merger agreement announced last month, MidAmerican Energy Holdings Co. will buy Constellation Energy for about $4.7 billion in cash. The boards of directors for both companies have approved the deal, but shareholder and state and federal approvals are still needed. Earlier this month, the companies filed applications with the NRC and Federal Communications Commission. They hope to close on the transaction in nine to 12 months.