www.lehighvalleylive.com
—
Moving to accelerate its growth in electricity operations, PPL Corp. said it will buy the U.K.-based Central Networks electrical networks distribution business of Germany's E.On AG in a deal worth $6.4 billion. Allentown-based PPL said it would pay $5.6 billion, or 3.5 billion pounds, in cash and assume $800 million in debt. PPL and E.On expect to close the deal early next month. "This transaction significantly improves PPL's business mix and our business-risk profile," said James H. Miller, PPL's chairman, president and chief executive, in a statement on Tuesday. PPL said it expects the deal, when completed, could add up to 15 cents a share to its earnings this year.