(Updates with comments from PPL's CEO.)
PPL Corp. (PPL) will buy the United Kingdom 's second largest electricity distributor from E.ON AG (EOAN.XE) for $5.6 billion in cash plus assumed debt, expanding its British footprint and overall utility business.
The deal, expected to close next month, will make the Allentown, Penn. company the operator of the largest network of electricity delivery companies in the U.K. by regulated asset value. PPL already owns utility operations in the
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