Emera to acquire Canadian Utilities in $14.3 billion all-share deal
Emera has agreed to acquire Canadian Utilities in an all-share transaction valued at approximately $14.3 billion. Holders of Canadian Utilities Class A shares will receive 0.755 Emera shares, while Class B shareholders will get 0.819 Emera shares. ATCO will be part of the transaction, with its industrial services operations to be separated into a new listed entity, New ATCO.
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(Adds details from paragraph 2 onwards) Oct 6 (Reuters) — Canadian utility companies Emera and Canadian Utilities said on Tuesday they would merge to create a combined company with an enterprise value of about C$72 billion ($50.46 billion). Emera shareholders are expected to own about 60% of the merged entity, and Canadian Utilities shareholders about 40%. The combined company will operate as Emera and maintain its public company headquarters in Halifax. The deal is expected to close in the third or fourth quarter of 2027. ($1 = 1.4270 Canadian dollars) (Reporting by Katha Kalia in Bengaluru; Editing by Jonathan Ananda) ((mailto:Katha.Kalia@thomsonreuters.com;)