Seeking Alpha

UNS Energy +30% AH after Fortis agrees to acquire for $60.25/share

  • UNS Energy (UNS) agrees to be acquired by Fortis (FRTSF), Canada's largest investor-owned gas and electric distribution utility, for $60.25/share, a 31% premium to today's closing price.
  • The $4.3B deal, which includes the assumption of ~$1.8B in debt, would provide additional capital and new resources for UNS subsidiaries including Tucson Electric Power and UniSource Energy Services.
  • Fortis serves more than 2.4M through its electric utilities in five Canadian provinces and two Caribbean countries, a natural gas company in British Columbia, and a gas and electric utility in New York.
  • UNS +30.2% AH.
Comments (1)
  • Cheesehusker
    , contributor
    Comments (298) | Send Message
     
    sweet! Now I need to replace this with a different utility
    11 Dec 2013, 05:12 PM Reply Like
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