merger

Richmond, Va.–based Dominion Resources announced on February 1 that it would add to its more than 12,000 miles of natural gas transmission, gathering, and storage pipeline, by acquiring Salt Lake City, Utah–headquartered Questar Corp. The $4.4 billion deal would pay Questar shareholders $25 per share of common stock, a 30% premium to the company’s volume-weighted […]

Italian energy giant Ansaldo Energia says its acquisition of Alstom’s GT 26 and GT36 gas turbine assets and technology, as required by European regulators, will allow the company to increase its turnover twofold in the coming five years. The firm owned 44.8% by Italian state-owned holding company Fondo Strategico Italiano and 40% by Chinese equipment […]

Following regulatory approval of a $10.6 billion transaction in over 20 countries and regions, GE’s acquisition of Alstom’s energy activities is now complete. GE and Alstom sealed the deal first proposed in early 2014 with the signing of a 1,500-page “master agreement.” GE had initially proposed buying Alstom’s lucrative business for €12.35 billion, but following […]

European Union (EU) officials have approved General Electric’s (GE’s) $9.5 billion acquisition of Alstom’s power business, but conditions to which the two companies agreed to cement the deal will drastically reshape the world’s heavy-duty gas turbine market.  The European Commission, the 28-country union’s executive body, granted its approval to the much-watched proposed merger, but only […]

The final hurdle for Exelon Corp.’s purchase of Pepco Holdings Inc. (PHI) became the ultimate stumbling block, as the Public Service Commission of the District of Columbia (DCPSC) could not be persuaded that the merger was in the public interest. The DCPSC—an independent agency established by Congress to regulate electric, natural gas, and telecommunications companies […]

Southern Co. and AGL Resources—the largest natural gas–only distribution company in the U.S.—have agreed to merge in a deal that will make AGL Resources a wholly-owned subsidiary of the giant electric company. The transaction announced on Aug. 24 has an enterprise value of about $12 billion, including a total equity value of approximately $8 billion. […]

France’s state-owned utility EDF will snap up between 51% and 75% of troubled nuclear giant AREVA’s reactor business in a possible $2.96 billion deal.  While the French government owns about 87% of AREVA and 85% of EDF, the utility that operates the nation’s aging 58-reactor fleet, it has pledged to look at all options to […]

As part of a remedy package to appease the European Commission, Alstom will accept $331 million less than the original $13.63 billion purchase price offered by General Electric (GE) to close the deal.  The much-anticipated deal has come under close scrutiny by the European Commission, which opened a full-scale antitrust investigation into the deal on […]

NextEra Energy’s $4.3 billion bid to buy Hawaiian Electric Industries faces big, perhaps insurmountable, obstacles before the Hawaii Public Utilities Commission, which opened the record on the deal last week. The commission published the public filings in the case, which were overwhelmingly negative. Hawaii’s governor, David Ige, panned the deal in a press conference on […]

Ontario’s four largest local electricity distribution companies are working to form a large new utility Enersource Corp., Horizon Utilities Corp., Hydro One Brampton Inc., and PowerStream Inc. have made a commitment to merge and create a new utility. The companies said in a joint statement on April 16 that the proposed merger would allow a […]