FirstEnergy Corp. And GPU Inc. Announce Merger

The transaction would be accounted for as a purchase, and is expected to be accretive to FirstEnergy’s earnings per share and cash flow immediately upon its completion. The companies expect that the transaction can be completed within 12 months. Financing for the transaction is expected to come from a combination of long-term debt and bank credit lines.

SAN JOSE, Calif.-The combined cycle configuration is a driving force in the gas and steam turbine markets, increasing efficiency of electricity production and leading to more orders of electricity-generating equipment.

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