Here is Rick Howlett‘s report on the Louisville Gas and Electric/Kentucky Utilities sale. Mayor Abramson says the city and state put together a strong bid to buy the utilities, but it hit a snag:

Abramson says local and state officials secured financial backing to bid on the properties, but couldn’t meet parent company E.ON’s requirement for a so-called “break-up fee,” tens of millions of dollars that would be forfeited if the deal fell through.