Peoples Confirms It's In Talks With WPS

No agreement has been reached; Wall Street Journal says deal could be worth $1.5 billion.

Peoples Energy Thursday confirmed media reports that it is engaged in discussions regarding a potential strategic transaction with WPS Resources Corp.

The Wall Street Journal reported Thursday that a $1.5 billion deal was being discussed between the two energy companies.

Peoples, based in Chicago, emphasized that no agreement has been reached, and it does not intend to make further public statements regarding the matter until either a definitive agreement is reached or discussions are terminated.

WPS is based in Green Bay, Wisconsin.

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