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Canada: Utility merger worth $4.3B to move forward

By  |  December 12, 2013

Canada’s utility company Fortis Inc. has reportedly inked a buyout deal to acquire US-based Tucson Electric Power Co in a deal worth $4.3 billion following approval by Tucton’s parent company.

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    UNS Energy Corp. gave its blessing for the utility to acquire Tucson, though the deal remains subject to regulatory and shareholder clearance.

    The news comes nearly a decade after authorities denied approval of a UNS buyout by Kohlberg Kravis Roberts & Co.

    Full Content: AZStar

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