"Duke Energy expects to effect a reverse stock split immediately prior to closing, and, as a result, the exchange ratio will be appropriately adjusted at that time to reflect the reverse split." Aug 23rd was the proxy vote to approve the merger, Sept 2-partial approval was received in North Carolina, Sept 6th, another partial approval was received in South Carolina: http://www.regulatorystaff.sc.gov/news/9-6-11pressreleasedukeprogressmerger.pdf I'm not sure how many more states have to give approval. I do know they are still waiting on the Nuclear Commission approval.
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