Business

Progress Energy declines comment about Duke Energy merger report

Posted January 7, 2011 2:47 p.m. EST

— Officials at Raleigh-based Progress Energy (NYSE: PGN) are not commenting about media reports that the utility firm is possibly talking merger with Charlotte-based Duke Energy (NYSE: DUK).

Reports broke Thursday that talks might be underway.

"We don't comment on any of that stuff if it's speculation," said Mike Hughes, a spokesman for Progress Energy.

Progress shares trade up 1.6 percent Friday at $44.58 per share. On Thursday, shares jumped after the first report about the talks from financial news site DealReporter.com.

Progress closed Thursday at $43.90, up $1.1, but they did peak at $44.48 on the rumor talk.

Duke shares remained flat Friday after falling 4 cents Thursday.