Progress Energy and Duke Energy announced today that they've set Aug. 23 as the date that the utilities' shareholders will vote on their merger.
The companies expect to mail investors a joint prospectus about the deal on Monday. with instructions on how to vote online, by mail, by phone or in person. Anyone who owned shares at the close of business on July 5 is eligible to vote.
Duke will hold its meeting at 10 a.m. at its offices at 526 S. Church St., Charlotte.
Progress shareholders will meet at 11 a.m. at the Progress Energy Center for the Performing Arts, a few blocks from the company's downtown Raleigh headquarters.
The companies announced Jan. 10 that they planned to join forces, forming the nation's largest electricity utility with 7.1 million customers in six states. The combined company will take the Duke name and have its headquarters in Charlotte.
The deal still requires various state and federal approvals. The N.C. Utilities Commission has scheduled hearings on the deal in September. Regulators could force the companies to agree to various conditions to win approval, including rate freezes.
The companies announced last week that they will offer early-retirement buyouts to their 28,000 combined employees this fall. That's partly an effort to minimize layoffs once the deal closes and the companies seek to reduce operating expenses.
Company CEOs have said they expect to complete their union by the end of the year.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or