Emera (EMA.US) plans an all-stock acquisition of Canadian Utilities worth $10 billions to create one of the top 20 utility companies in North America.
Emera (EMA.US) has agreed to acquire Canadian Utilities Ltd. in an all-stock deal valued at approximately 10 billion US dollars (14.3 billion Canadian dollars).
According to Golden Ten Data, Emera (EMA.US) has agreed to acquire Canadian Utilities Ltd. in an all-stock deal worth approximately 14.3 billion Canadian dollars (10 billion US dollars), creating a large electricity and natural gas company with operations spanning from Florida to Alberta. According to a statement released on Tuesday, the combined company will have an enterprise value of about 72 billion Canadian dollars and serve 6 million customers. The two companies stated that this will be the largest single merger transaction between Canadian enterprises and will form one of the top 20 utility companies in North America.
Shareholders of Emera will hold about 60% of the merged company. The merged entity will continue with the Emera name and its headquarters will remain in Halifax. The parent company of Canadian Utilities, ATCO Ltd., will spin off its other businesses into an independent publicly listed company.
The two companies plan to implement a capital investment program of 32 billion Canadian dollars by 2030. They stated that the merger will enhance their ability to advance large-scale electrification projects, major natural gas and transmission development projects, and other large infrastructure initiatives.
The deal is expected to be completed in the third or fourth quarter of 2027.
In pre-market trading on Tuesday, Emera fell nearly 1%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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