Breaking News: E.On Considering Sale of LG&E

KYEstates is an advocate for locally owned, locally headquartered businesses in Kentucky.  Significant news hit the wires this morning: E.On, the German parent of LG&E, is considering selling LG&E and KU.  Potential bidders include Duke Energy, PPL, AEP, and Southern Co.  E.On’s ownership of LG&E has, in many ways, been good for the Louisville business community, in that E.On’s US operations have been headquartered in Louisville.  A spinoff of LG&E to a major player in the US utility market headquartered elsewhere does, regrettably, present risks of job losses and other changes that wouldn’t be welcome for the city.

KYEstates believes that a strong, growing, vibrant cohort of locally owned, locally headquartered businesses is critical for Kentucky’s long-term economic vitality.  Family and other closely-held businesses, you are appreciated….

UPDATE: 3:45PM Brent Adams of Business First provides an update on the developing story here.  Municipal and/or Kentucky state ownership of LG&E is under consideration, but it may be difficult to arrange financing.

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