NEW YORK (Reuters) - Duke Energy Corp. (DUK.)(N), the third largest company to US, is close to buy a contract to compete with progress Energy Inc. (PGN).(N) for more than 13 billion, according to sources familiar case.
Stock-based agreement would be low premium to market value of the progress 13.1 billion, a source said.
The Financial Times reported Saturday that the companies hope to announce agreement on Monday morning, but warned that some details still need to be so talks might be delayed or even derailed.
Two electricity companies are based in North Carolina and serve its customers in North Carolina and southern. Duke serves as some markets in the U.S. Midwest and progress also provides customers in Florida.
Duke last year alongside lost a bid for assets of the U.S. to German utility E.ON (EONGn.DE), but its CEO, Jim Rogers, a veteran of the industry leading public services in the past 21 years, has widely perceived as hungry to make acquisitions.
Duke and progress were not immediately available for comment.
(Reporting by Michael Erman, editing by Maureen Bavdek)
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