US Power generator Entergy has announced it is cancelling its plan to spin off five nuclear plants into a separate company.
The plan has encountered opposition since it was announced nearly two years ago.
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The decision comes after New York regulators rejected the plan last month, reports Associated Press.
The New Orleans based company said it will record a charge of 40 to 45 cents per share — $75.6m to $85.1m — for costs associated with unwinding the proposal.
The plants are in New York, Massachusetts, Vermont and Michigan.
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