By Svea Herbst-Bayliss and David French
(Reuters) – Duke Energy Corp is in advanced settlement talks with Elliott Management Corp that could see the U.S. power utility add two directors backed by the activist investment firm to its board, people familiar with the discussions said on Friday.
One of the directors would join after the agreement is formalized, while another would be recruited at a later date, the sources said. Both would be chosen by Duke but have the blessing of Elliott, the sources added.
An agreement that would avert a board challenge could be secured before the end of the year, the sources said. They cautioned however, that no deal is certain and that terms could change. They asked not to be identified because the matter is confidential.
Duke and Elliott declined to comment.
(Reporting by Svea Herbst-Bayliss and David French in New York; Editing by Chizu Nomiyama)
