UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of Earliest Event Reported):
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March 14, 2016
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Piedmont Natural Gas Company, Inc.
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(Exact name of registrant as specified in its charter)
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North Carolina
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1-6196
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56-0556998
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(State or other jurisdiction
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(Commission
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(I.R.S. Employer
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of incorporation)
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File Number)
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Identification No.)
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4720 Piedmont Row Drive, Charlotte, North Carolina
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28210
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code:
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704-364-3120
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Not Applicable
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Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On March 14, 2016, Piedmont Natural Gas Company, Inc. issued a press release announcing that the Tennessee Regulatory Authority approved the change in control to Duke Energy Corporation, as contemplated by the Agreement and Plan of Merger among Piedmont, Duke Energy and Forest Subsidiary, Inc. dated as of October 24, 2015, once the North Carolina Utilities Commission approves the transaction and the acquisition is completed. The press release is filed as Exhibit 99.1 hereto, and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
Item 99.1 Press Release dated March 14, 2016
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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Piedmont Natural Gas Company, Inc.
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March 15, 2016
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By:
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Karl W. Newlin
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Name: Karl W. Newlin
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Title: Senior Vice President and Chief Financial Officer
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Exhibit Index
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Exhibit No.
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Description
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99.1
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Press release dated March 14, 2016
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Piedmont Natural Gas Receives Tennessee Regulatory Authority Approval for a Change in Control
upon Acquisition by Duke Energy
Action by Tennessee Regulatory Authority paves way for operational handoff in Tennessee once
the North Carolina Utilities Commission approves the transaction and Piedmont Natural Gas becomes a
subsidiary of Duke Energy
CHARLOTTE, N.C., March 14, 2016 /PRNewswire/ Piedmont Natural Gas (NYSE: PNY) today received
approval from the Tennessee Regulatory Authority (TRA) for a change in control to Duke Energy once
the North Carolina Utilities Commission (NCUC) approves the transaction and the acquisition is
completed. The two energy companies first announced the proposed acquisition in October, 2015 and
expect to close on the transaction by the end of 2016. The TRAs action is a necessary step for
the operational handoff from Piedmont to Duke Energy to occur in Tennessee once the acquisition is
completed. It is the latest in a series of approvals and regulatory orders that Piedmont and Duke
Energy have obtained with respect to the proposed acquisition.
In December, 2015, the Federal Trade Commission granted Duke Energy and Piedmont early termination
of the mandatory 30-day waiting period required under the Hart-Scott-Rodino Antitrust Improvements
Act. On January 22, Piedmonts shareholders approved the proposed acquisition and on March 7, the
Kentucky Public Service Commission issued a declaratory order that had been requested by Duke
Energy in conjunction with the proposed acquisition.
The North Carolina Utilities Commission is the final regulatory commission approval required for
the transaction to close. The NCUC has set July 18, 2016 as the date to hear Duke Energys and
Piedmonts request for acquisition approval.
Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements are based on managements beliefs and assumptions. These forward-looking statements are
identified by terms and phrases such as anticipate, believe, intend, estimate, expect,
continue, should, could, may, plan, project, predict, will, potential,
forecast, target, guidance, outlook, and similar expressions. Forward-looking statements
involve risks and uncertainties that may cause actual results to be materially different from the
results predicted. Such forward-looking statements include, but are not limited to, statements
about the expected timing of completion of the proposed merger involving Duke Energy and Piedmont,
and other statements that are not historical facts. Important factors that could cause actual
results to differ materially from those indicated by such forward-looking statements include risks
and uncertainties relating to: the risk that Duke Energy or Piedmont may be unable to obtain
governmental and regulatory approvals required for the merger, or that required governmental and
regulatory approvals may delay the merger or result in the imposition of conditions that could
cause the parties to abandon the merger; the risk that a condition to closing of the merger may not
be satisfied; the timing to consummate the proposed merger; the risk that the businesses will not
be integrated successfully; the risk that the cost savings and any other synergies from the
transaction may not be fully realized or may take longer to realize than expected; disruption from
the transaction making it more difficult to maintain relationships with customers, employees or
suppliers; the diversion of management time on merger-related issues; and the effect of changes in
governmental regulations. Additional risks and uncertainties are identified and discussed in
Piedmonts reports filed with the SEC and available at the SECs website at www.sec.gov. In
light of these risks, uncertainties and assumptions, the events described in the forward-looking
statements might not occur or might occur to a different extent or at a different time than
described. Piedmont does not undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise.
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural
gas to more than one million residential, commercial, industrial and power generation utility
customers in portions of North Carolina, South Carolina and Tennessee, including customers served
by municipalities who are wholesale customers. Our subsidiaries are invested in joint venture,
energy-related businesses, including unregulated retail natural gas marketing, and regulated
interstate natural gas transportation and storage, and regulated intrastate natural gas
transportation businesses. More information about Piedmont Natural Gas is available on the Internet
at http://www.piedmontng.com/.
To view the original version on PR Newswire,
visit:
http://www.prnewswire.com/news-releases/piedmont-natural-gas-receives-tennessee-regulatory-authority
-approval-for-a-change-in-control-upon-acquisition-by-duke-energy-300235657.html
SOURCE Piedmont Natural Gas
David L. Trusty, +1-704-731-4391, david.trusty@piedmontng.com
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