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RALEIGH, N.C. (AP) - Progress Energy CEO Robert McGehee has told the energy company's 11,600 employees that top managers are not shopping the company to potential buyers.
"These kinds of rumors are not surprising given the number of large utility mergers announced lately," McGehee said in an e-mail to employees earlier this month. "Progress Energy has a responsibility to our shareholders, and our company will continue to listen to good ideas others may present. However, the important thing to remember is that we control our own destiny. We are fortunate that our company has desirable, fast-growing service territories."
His March 14 message came the same day as a report in the trade newsletter The Energy Daily stating that officials of Atlanta-based Southern Co. have been discussing merger plans with Raleigh-based Progress Energy.
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