UTILITIES
From Times Staff and Wire Reports
Southern Utilities Merging: New Orleans-based Entergy Corp., the dominant electrical utility company in Louisiana, Arkansas and Mississippi, said it is merging with Gulf States Utilities Co. in a $2.3-billion deal. Holders of GSU common stock will receive $20 per share in cash or stock. That represents a 38% premium over the price of GSU common Friday. Entergy has 1.7 million customers served by Arkansas Power & Light, Louisiana Power & Light, Mississippi Power & Light and New Orleans Public Service Inc. Gulf States Utilities serves 579,000 customers in southern Louisiana and southeastern Texas.
