8/10/2010

Inergy has agreed to buy Inergy Holdings for $2.1 billion in a restructuring deal that will bring the twin companies' cash-generating assets under a single corporate umbrella. "The transaction will result in a single, streamlined entity with [Inergy]'s enterprise value exceeding $6 billion based on current market values," Inergy said in a statement. The move came as the propane distributor reported a significant quarterly loss, with expenses growing faster than revenue despite increasing propane prices.

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