NEW YORK ( TheStreet) -- Duke Energy ( DUK) and competitor Progress Energy ( PGN) will merge in a stock-for-stock transaction resulting in an energy company with a market capitalization of $37 billion.

Under the deal, Duke will buy Progress Energy for $13.7 billion, or $46.48 a share. Duke Energy also will assume about $12.2 billion in debt of Progress Energy.

The transaction price represents a 7.1% premium to the closing stock price of Progress Energy on Jan. 5 and a 3.9% premium to the closing stock price of Progress Energy on Jan. 7.

Shares of Duke Energy fell 0.9% to $17.63 in premarket trading Monday, and Progress shares were down 1.1% to $44.25.

DuPont ( DD) agreed to buy Danisco, the Danish food ingredients company, for $5.8 billion in cash and the assumption of $500 million of Danisco debt.

Shares of DuPont fell 0.2% to $49.65.

Johnson & Johnson ( JNJ) approached European medical device maker Smith & Nephew ( SNN) with a takeover bid last month, according to reports.

Shares of J&J were flat at $62.60 in premarket trading, while Smith & Nephew surged by 11.8% to $56.81.

Over the weekend, BP ( BP) said it was shutting down 95% of its Alaskan oil production because of an oil leak at a pump station on the North Slope, according to reports.

BP shares fell 2.3% to $45.03 in premarket trading.

IT provider iGate ( IGTE) agreed to acquire a majority stake in Patni Computer Systems ( PTI).

There were no premarket trades for iGate. Shares of the company ended Friday's trading session at $19.16, down 1.5%. Patni rose by 3.2% to $21.40 in premarket trading Monday.

Alcoa ( AA) is expected to release fourth-quarter earnings after the market closes Monday. It's the first Dow component scheduled to release its numbers.

Alcoa rose 0.7% to $16.54.

Citing people familiar with the situation, the Wall Street Journal said Genzyme ( GENZ) is once again talking to Sanofi Aventis ( SNY) about a potential merger.

Genzyme stock was up 3.5% to $73.85 in premarket trading Monday, while Sanofi Aventis fell 2.2% to $31.50.

There is speculation that Verizon Communications ( VZ) plans to hold an event in New York this week to announce its plans to begin selling Apple's ( AAPL) iPhone, news that will officially end AT&T's ( T) exclusivity with the device.

Verizon's stock was up 1.5% to $36.47, while shares of AT&T were flat at $28.85. Apple shares rose 0.7% to $338.49.

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-- Written by Andrea Tse in New York.

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