![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Fortis Inc (PK) | USOTC:FRTSF | OTCMarkets | Preference Share |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 30.6414 | 30.52 | 31.45 | 0.00 | 01:00:00 |
Gaz Metro Limited Partnership will acquire Central Vermont Public Service Corp. (CV) after the Vermont electricity utility determined Gaz Metro's $35.25-a-share offer was superior to a competing bid from Fortis Inc. (FTS.T).
This deal paves the way for the combination of Central Vermont with Gaz Metro's Green Mountain Power Corp. subsidiary, creating the largest electricity distributor in Vermont.
Last month, Gaz Metro topped Newfoundland-based Fortis' $35.10-a-share bid for Central Vermont, which had been agreed to in May. With the end of the Fortis deal, Central Vermont has agreed to pay Fortis a $17.5 million termination fee, plus $2 million in merger expenses.
Central Vermont values the Gaz Metro deal at $702 million, including the assumption of about $230 million of debt. The offer represents a premium of 45% over the company's closing price of $24.32 on May 27, the last trading day before the Fortis deal was announced.
-By Judy McKinnon, Dow Jones Newswires; 416-306-2100; judy.mckinnon@dowjones.com
Order free Annual Report for Central Vermont Public Service
Visit http://djnewswires.ar.wilink.com/?link=CV or call 1-888-301-0513
1 Year Fortis (PK) Chart |
1 Month Fortis (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions