Emera inks Canadian Utilities merger deal with ATCO to create $72B energy ‘powerhouse’
Existing Emera shareholders are expected to own about 60 per cent of the combined utility, while former Atco and Canadian Utilities shareholders are set to own about 40 per cent.
Emera Inc. and Canadian Utilities Ltd. have agreed to an all-stock merger, creating an energy giant worth $72 billion. The combined company, operating under the Emera banner, will serve six million customers across Canada, the United States, Mexico, the Caribbean, and Australia. The merger, expected to be the largest between two Canadian companies, will be led by Emera chief executive Scott Balfour.
The new entity will focus on electrification trends and major infrastructure development, aiming to meet growing energy needs and power Canada's growth ambitions. The transaction is subject to court, regulatory, competition, and stock exchange approvals in multiple jurisdictions.
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Also reported by 2 other outlets
- ATCO's stunning rise from a dozen utility trailers to blockbuster Emera deal calgaryherald.com
- Emera to buy Canadian Utilities to create utility company heavyweight winnipegfreepress.com
