Democrat and Chronicle

(Thursday, January 31, 2002) -- Shares of RGS Energy Group Inc. hit an all-time high of $39.39 on Wednesday and closed at $39.32, up 10 cents.

The parent of Rochester Gas and Electric Corp. is merging with Albany-based Energy East Corp. The merger still needs final regulatory approval. RGS officials expect the merger to close by the end of June.

Under terms of the agreement, RGS stockholders will receive $39.50 a share, payable in a combination of cash and Energy East Stock.