DOJ Clears FirstEnergy (NYSE:FE), Allegheny Energy (NYSE:AYE) Merger

FirstEnergy Corp. (NYSE:FE) and Allegheny Energy, Inc. (NYSE:AYE) were contacted by the U.S. Department of Justice telling them their proposed merger was cleared by them.

Anthony J. Alexander, President and Chief Executive Officer of FirstEnergy "We are pleased to have completed the DOJ review process - another important step in our merger with Allegheny Energy."

"With both key federal clearances now in hand, we're making excellent progress toward this important combination," said Paul J. Evanson, Chairman, President and Chief Executive Officer of Allegheny Energy.

First Energy closed Friday at $38.25, gaining $0.09, or 0.24 percent. Allegheny Energy closed at $25.15, gaining $0.10, or 0.40 percent.