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Con Edison (ED) Stock Slides in After-Hours Trading on Common Share Offering

NEW YORK (TheStreet) -- Consolidated Energy (ED - Get Report) stock is slumping by 1.71% to $73.07 in after-hours trading on Monday, after the company announced an offering of 8.8 million of its common shares.

The company will grant the underwriters an option to purchase up to 1.32 million additional shares.

The offering is related to Con Edison's agreement to purchase an equity interest in a gas pipeline and storage joint venture, according to a company statement.

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