PPL Corporation is reportedly in talks to combine businesses with a Connecticut-based utility company.
The Financial Times, citing people close to the discussions, reports Allentown's PPL and Avangrid are discussing a possible merger to create a company worth more than $67 billion.
If the two companies combine, it will form one of the largest publicly traded utilities in the U.S., the report states. It would rank as the biggest utility tie-up this year.
The sources said there was no certainty a deal would be reached, the report states.
A PPL spokesperson told 69 News they do not comment on market rumor or speculation.
Avangrid told the Financial Times it would not comment on speculation.
Avangrid serves more than 3 million customers across New York and New England. It has a market value of about $15 billion, while PPL is worth about $22.7 billion.