NEW ORLEANS — Entergy Corp. and FPL Group Inc. on Monday called off their proposed $9 billion merger, which would have created the nation's largest power utility.

The deal, announced last July, had been considered by Wall Street analysts to be on the rocks since March 19, when the companies issued a statement that issues had arisen over managing the combined company and the value of some assets.

The companies blamed each other for the deal's crack-up.

In a statement, Entergy said that "accepting various positions taken by FPL Group would leave Entergy with no merger of equals, as approved by shareholders."

New Orleans-based Entergy said the company objected to proposed changes to the combined management structure put forth by FPL Group and that the merger had become "equivalent to a takeover" without the normal premium for its shareholders.

In its statement, FPL Group, based in Juno Beach, Fla., said it had concluded that the merger would not benefit its stockholders.

"A principal reason for FPL Group's decision centered on discrepancies in Entergy's financial forecasts and Entergy's repeated refusal to provide financial documents and other information requested by FPL pursuant to the merger agreement," FPL Group said.

Both companies said they believed it was unlikely that the deal would have been approved by state utility regulators.

In early trading Monday on the New York Stock Exchange, shares of both companies rose. Entergy was up 44 cents at $38.44, while FPL shares gained 92 cents to $62.22.

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Last year, both companies said their proposed merger would be the trend of the future, resulting in a handful of power giants serving most of the nation's electricity consumers.

During a conference call with analysts, FPL Group chairman James Broadhead said he believed that power companies would continue to try to combine.

"However, it is clear that the regulatory approval for these mergers is going to be formidable," Broadhead said.

Last July, the companies announced the all-stock deal — then worth about $7 billion — to forge a utility powerhouse with 6.3 million customers from Florida to Arkansas. Shareholders approved the deal in December, and it was expected to be completed in the fourth quarter after regulatory scrutiny.

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