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Emera said it will acquire Canadian Utilities in an all-stock deal valued at C$14.3 billion ($10.02 billion). ATCO will spin off into a publicly traded industrial services company called New ATCO.
Emera (TSX:EMA) will merge with Canadian Utilities (TSX:CU) in an all-stock transaction valued at $10 billion.
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.