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Emera announced that holders of Canadian Utilities Class B shares, excluding ATCO, will receive 0.819x of an Emera common share for each Canadian Utilities Class B share held.
Emera and Canadian Utilities will merge in a deal creating a Top 20 North American utility with approximately $72 billion in enterprise value, $45 billion in rate base, and six million customers. ATCO will spin off its industrial services business into a new publicly-traded company.