This Slide: #80 of 100 |
Slide #80. Fortis Utility Group — UNS Energy Corporation
Acquirer:
Fortis Utility Group (FTS.CA)
Acquiree:
UNS Energy Corporation (UNS)
Details:
The Board of Directors of UNS Energy Corporation (NYSE:UNS) has unanimously approved a definitive merger agreement with Fortis, Inc. (TSX:FTS.CA), Canada's largest investor-owned gas and electric distribution utility, that calls for Fortis to acquire all of the outstanding common stock of UNS Energy for $60.25 per share in cash.
Fortis is a holding company. Through its subsidiaries, Co. is engaged in the regulated electric and gas utility industry. Co.'s regulated utility businesses include ITC Holdings Corp. together with all of its subsidiaries, which consists mainly of electric transmission operations. ITC's subsidiaries own and operate high-voltage electric transmission systems in Michigan's Lower Peninsula and portions of Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma that transmit electricity from generating stations to local distribution facilities connected to ITC's transmission systems. Co.'s non-regulated energy infrastructure includes a natural gas storage facility in British Columbia.
Preferreds: FTS.PRC.CA, FTS.PRE.CA, FTS.PRF.CA, FTS.PRG.CA, FTS.PRH.CA, FTS.PRJ.CA
Open the FTS.CA Page at The Online Investor »
Fortis is a holding company. Through its subsidiaries, Co. is engaged in the regulated electric and gas utility industry. Co.'s regulated utility businesses include ITC Holdings Corp. together with all of its subsidiaries, which consists mainly of electric transmission operations. ITC's subsidiaries own and operate high-voltage electric transmission systems in Michigan's Lower Peninsula and portions of Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma that transmit electricity from generating stations to local distribution facilities connected to ITC's transmission systems. Co.'s non-regulated energy infrastructure includes a natural gas storage facility in British Columbia.
Preferreds: FTS.PRC.CA, FTS.PRE.CA, FTS.PRF.CA, FTS.PRG.CA, FTS.PRH.CA, FTS.PRJ.CA
Open the UNS Page at The Online Investor »
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