M&A Deal Summary |
|
|---|---|
| Date | 2016-02-09 |
| Target | ITC Holdings |
| Sector | Utilities |
| Buyer(s) | Fortis |
| Deal Type | Add-on Acquisition |
| Deal Value | 11.3B USD |
| Advisor(s) | Barclays Investment Bank Morgan Stanley (Financial) Simpson Thacher & Bartlett (Legal) |
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Fortis is a distribution utility in Canada, serving more than 2 million gas and electricity customers. Its regulated holdings include electric utilities in five Canadian provinces and two Caribbean countries and a natural gas utility in British Columbia. Fortis owns non?regulated hydroelectric generation assets in Canada, Belize and Upstate New York. Fortis also owns hotels and commercial real estate in Canada. Fortis was formed in 1977 and is based in St. John's, Newfoundland. Fortis was incorporated in 1885 and is based in Saint John's, Canada.
| DEAL STATS | # |
|---|---|
| Overall | 10 of 10 |
| Sector (Utilities) | 5 of 5 |
| Type (Add-on Acquisition) | 9 of 9 |
| State (Michigan) | 1 of 1 |
| Country (United States) | 6 of 6 |
| Year (2016) | 1 of 1 |
| Size (of disclosed) | 1 of 9 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2014-08-15 |
UNS Energy
Tucson,, Arizona, United States UNS Energy Corp. serves more than 414,000 customers in and around Tucson, provides natural gas and electric service to about 243,000 customers in northern and southern Arizona. |
Buy | $4.5B |
