Spire Inc. has announced an agreement to acquire the Tennessee Piedmont Natural Gas business from Duke Energy. The acquisition involves Spire taking over a local distribution company that serves over 200,000 customers in the Nashville area. Spire will purchase the business for $2.48 billion on a cash-free, debt-free basis, with the transaction expected to be accretive to adjusted earnings per share and supportive of long-term earnings growth. The deal is set to close in the first quarter of 2026, subject to customary closing conditions.
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