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Canada: Utility merger worth $4.3B to move forward

 |  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.

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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