Emera, Canadian Utilities Agree to CA$72 Billion Merger
MT Newswires Live
Oct 06
Emera (EMA) said Tuesday it agreed to merge with Canadian Utilities in an all-share transaction valued at approximately 14.3 billion Canadian Dollars ($10.02 billion), creating a utility and energy infrastructure company with a pro forma enterprise value of about CA$72 billion.
The combined company is expected to have approximately CA$45 billion in rate base and serve roughly 6 million customers across Canada, the US, and international markets, it said.
Emera shareholders are expected to own about 60% of the combined company, while former Canadian Utilities and ATCO shareholders will collectively own about 40%, the companies said.
The deal is expected to close in H2 2027.
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