M&A Deal Summary

National Grid Acquires Niagara Mohawk Power

On February 1, 2002, National Grid acquired utilities company Niagara Mohawk Power for 8.9B USD

Acquisition Highlights
  • This is National Grid’s 1st transaction in the Utilities sector.
  • This is National Grid’s 2nd largest (disclosed) transaction.
  • This is National Grid’s 1st transaction in the United States.
  • This is National Grid’s 1st transaction in New York.

M&A Deal Summary
Date 2002-02-01
Target Niagara Mohawk Power
Sector Utilities
Buyer(s) National Grid
Deal Type Merger
Deal Value 8.9B USD

Target

Niagara Mohawk Power

Syracuse, New York, United States
Niagara Mohawk Power distributes electricity to approximately 1.6 million customers and natural gas to about 600,000 customers in upstate New York.

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Buyer(S) 1

Buyer

National Grid

London, United Kingdom
Category Company
Founded 1990
Sector Energy Services and Equipment
Employees31,425
Revenue 19.9B GBP (2024)
DESCRIPTION

National Grid is an electricity and gas company that connects consumers to energy sources through its networks. National Grid was founded in 1990 and is based in London, the United Kingdom.

DEAL STATS #
Overall 1 of 4
Sector (Utilities) 1 of 2
Type (Merger) 1 of 1
State (New York) 1 of 2
Country (United States) 1 of 3
Year (2002) 1 of 1
Size (of disclosed) 2 of 4
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-31 North England Gas Distribution Network

United Kingdom

EG is one of the 8 major gas distribution networks in the United Kingdom. Its network extends south from the Scottish border to South Yorkshire, containing a mixture of large cities (Newcastle, Middlesborough, Leeds and Bradford) and a significant rural area including North Yorkshire and Cumbria. It comprises approximately 36,000 km of distribution gas mains, with a total gas demand of 94 TWh. The network serves a total population of 6.7 million.

Sell £1.4B
Mergr

Product

Company

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