Word: stiennon
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E.ON isn't openly in talks with anyone yet, but speculation centers on companies that are located near LG&E. J.P. Morgan Chase utility analyst Pierre Stiennon says to look for a deal with Cinergy, based in Cincinnati, Ohio; Allegheny Energy in Hagerstown, Md.; or PPL of Allentown, Pa. All three companies produce and sell power on the wholesale market and also serve a large base of regulated retail customers. Hartmann is known as a careful shopper. When he explored a U.S. acquisition as CEO of Veba, the man on the other side of the table was Enron's Jeff...
Some energy analysts believe the next item on RWE's shopping list is a large independent U.S. power producer. Stiennon named four of the biggest firms in the industry--Calpine, AES, Reliant Resources and Mirant--as likely targets. RWE CEO Dietmar Kuhnt insists that "we've done a lot of good acquisitions, and now we want to rest." But when analysts asked whether RWE had ruled out buying one of the big merchant generators, CFO Klaus Sturany said, "We are talking about one or two power plants at most...
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