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February 21, 2001 | Reuters
Energy East Corp. said it would pay $1.4 billion to buy RGS Energy Group Inc., creating one of the largest diversified energy providers in the U.S. Northeast. The companies said they would use the savings from merged operations to ease the way for a deregulated electricity market in New York state. Under terms of the deal, Energy East will pay $39.50 per share in cash or Energy East stock for Rochester, N.Y.-based RGS Energy.
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BUSINESS
February 21, 2001 | Reuters
Energy East Corp. said it would pay $1.4 billion to buy RGS Energy Group Inc., creating one of the largest diversified energy providers in the U.S. Northeast. The companies said they would use the savings from merged operations to ease the way for a deregulated electricity market in New York state. Under terms of the deal, Energy East will pay $39.50 per share in cash or Energy East stock for Rochester, N.Y.-based RGS Energy.
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