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Juno Beach, Fla.-based energy company FPL Group agreed Monday to buy Constellation Energy Group of Baltimore, Md., for about $11 billion in stock, to create the second-largest electricity company in the United States. The two companies said in a joint statement the stock swap will create a company to be called Constellation Energy with a market capitalization of $28 billion, and will be 60 percent owned by current shareholders of FPL.
December 20, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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