Piedmont Natural Gas (PNY) announced Monday morning that it has agreed to be acquired by Duke Energy (DUK) for approximately $4.9 billion in cash.
Piedmont Natural Gas gapped open dramatically higher Monday, but traded in a range for the majority of the session. Shares finished up by 15.60 at $57.82 on the highest volume of the year. The stock soared to a new high for the year.
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