Cinergy to merge with North Carolina company

Cinergy Corp. shareholders approved a merger with Duke Energy, which will close as early as April. Duke Energy, a Fortune 500 company, is headquartered in Charlotte, N.C.\nState regulators have approved the terms of the merger, and PSI Energy in Indiana, along with other existing franchises of the electric and gas utilities, will be rebranded as Duke Energy.\n"We believe using one name signifies one company, one stock and one team and supports the growth of our business and a commitment to consistent performance for our customers," said James E. Rogers, chairman and chief executive officer of Cinergy.\nRogers will become the president and CEO of the new Duke Energy, while the current chairman of Duke will become the chairman of the board for the new company.\nThe transaction will create one of the largest energy companies in the country, Rogers said.