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Former regulator reacts to memo found during FOX Carolina News investigation
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Duke Energy and GIC close first phase of minority investment in Duke Energy Indiana
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Elliott demands Duke improve performance in Florida, Indiana; says C-suite driven by self-interest
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A Duke Energy crew repairs storm damage in Florida.
Charlotte-based Duke Energy and North Carolina political leaders are fighting back against a Florida hedge fund that wants to break up the company.
The fund,
Elliott Management, has a history of targeting public utilities by buying large stakes in the companies and pushing for corporate changes or divestments. In a letter to Duke s board released Monday, Elliott said it wants to split Duke into three separate companies based on geography the Carolinas, Florida and the Midwest. Elliott argues that Duke s Florida and Midwest utilities are undermanaged and undervalued and that the company would be worth more in pieces than combined.