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Signage is displayed at the FirstEnergy Corp. Bruce Mansfield coal-fired power plant in Shippingport, Pennsylvania.
FirstEnergy‘s stock price soared on Monday after the embattled utility announced an investment from well-known investors that will help underwrite its planned business transformation.
Shares of FirstEnergy were up more than 12 percent at roughly $33 on news of the $2.5 billion equity investment, which the company called “transformational.”
The investment comes from activist investor Paul Singer’s Elliot Management and…
Read the full article at: https://www.cnbc.com/2018/01/22/firstenergy-shares-soar-after-transformational-investment.html