More than $50 billion in proposed electric utility mergers and acquisitions have been announced this year. In an industry that has consolidated nearly 200 investor-owned utilities in 1992 to around 60 today, the size and scope of proposed mergers and acquisitions is turning into multibillion-dollar propositions. Although the complexity of closing such megadeals is well beyond the scope of this one-page column, sailboat racing tactics provide high-level insight into how these megatransactions make it across the finish line.
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