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UIL reenergizes merger deal
2015-09-15 04:54:48| Energy - Topix.net
The New Haven-based parent of United Illuminating notified investors it had reached the outline of agreement with the Office of Consumer Counsel on its proposed merger with Iberdrola, with plans to seek approval from Connecticut regulators who had scotched the $3 billion deal in June. In a Securities and Exchange Commission filing, UIL and Iberdrola sa id they had "reached an agreement in principle that they intend to reflect in a mutually agreeable settlement agreement," in the company's words, with the federal Office of Consumer Counsel that would resolve all issues OCC had with the pending merger application.
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Category:Energy and Environment