ENERGY & ENVIRONMENT
From Times Staff and Wire Reports
Ipalco to Withdraw PSI Takeover Bid: Ipalco Enterprises Inc. said it will abandon the hostile, $1.73-billion effort to acquire PSI Resources Inc. The decision by Carmel, Ind.-based Ipalco, the parent of Indiana Power & Light Co., ends a five-month bidding war and clears the way for Cincinnati Gas & Electric Co. to acquire PSI for about $1.56 billion in stock. The transaction still requires approval from regulators and CG&E; shareholders.
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