Duke/Cinergy Power of Cinergy

Corporate chief executives are generally good at convincing their shareholders that the deals they concoct make strategic sense. Rarer are those that actually persuade investors their dream transactions stack up financially. Duke Energy’s $9bn takeover of Cinergy is one that works on both levels, thought it is perhaps most notable for the financial logic it brings to the utility and power generation combination. So, assuming the industrial logic stands up, consider the deal’s finances. By squee...