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Power giants call off merger

Monday, April 2, 2001 | 11:22 a.m.

NEW ORLEANS -- Entergy Corp. and FPL Group Inc. today called off their proposed $9 billion merger, which would have created the nation's largest power utility.

The deal, announced last July, had been considered by Wall Street analysts to be on the rocks since March 19 when the companies issued a statement that issues had arisen over managing the combined company and the value of some assets.

FPL Group, which is based in Juno Beach, Fla., is the parent of Florida Power & Light. Entergy, based in New Orleans, has regulated power businesses in Arkansas, Louisiana, Mississippi and Texas.

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