M&A Deal Summary

FirstEnergy Acquires Allegheny Energy

On February 10, 2010, FirstEnergy acquired utilities company Allegheny Energy for 4.7B USD

Acquisition Highlights
  • This is FirstEnergy’s 3rd transaction in the Utilities sector.
  • This is FirstEnergy’s largest (disclosed) transaction.
  • This is FirstEnergy’s 2nd transaction in the United States.
  • This is FirstEnergy’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2010-02-10
Target Allegheny Energy
Sector Utilities
Buyer(s) FirstEnergy
Deal Type Add-on Acquisition
Deal Value 4.7B USD
Advisor(s) Goldman Sachs (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Allegheny Energy

Greensburg, Pennsylvania, United States
Allegheny Energy, Inc. an electric utility company. Allegheny Energy operates and delivers electric services.

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Buyer(S) 1

Buyer

FirstEnergy

Akron, Ohio, United States
Category Company
Founded 1996
Sector Utilities
Employees12,042
Revenue 12.9B USD (2023)
DESCRIPTION

FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Headquartered in Akron, Ohio, FirstEnergy includes a investor-owned electric systems and a diverse generating fleet with a total capacity of nearly 18,000 megawatts. FirstEnergy was founded in 1996 and is based in Akron, Ohio.

DEAL STATS #
Overall 3 of 3
Sector (Utilities) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Pennsylvania) 1 of 1
Country (United States) 2 of 2
Year (2010) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-11-07 GPU

Morristown, New Jersey, United States

GPU, Inc., a utility holding company. GPU provides electric utilities services.

Buy $4.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-22 Richland-Stryker Generation

Defiance, Ohio, United States

Richland and Stryker are 444 MW and 20 MW simple cycle power plants in Northwest Ohio. The projects participate in the PJM forward capacity market and sell power on a merchant basis.

Sell $80M
Mergr

Product

Company

Legal