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LONDON (AP) - British utility National Grid PLC said Friday it was in talks with KeySpan Corp. as a published report said it was offering about $7.3 billion in cash for the U.S.-based natural gas and electric utility.
National Grid said in a statement that it was discussing a "possible transaction" with KeySpan and made no mention of a buyout offer. It also said that "these talks are yet to be concluded and that there is no certainty that they will lead to any definitive agreement."
"If agreed, any transaction would be on an all-cash basis, satisfied wholly from borrowings," National Grid said in a statement.
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