Mergers & Acquisitions ·
Emera announces pending $14.3B business combination with ATCO and CU
EMAEmera Inc
Emera announced a pending all-share business combination with ATCO Ltd. and Canadian Utilities Limited valued at approximately $14.3 billion. Under the transaction, Emera will acquire all outstanding shares of ATCO and CU in exchange for Emera common shares and new New ATCO Class I and II shares following a spin-out of ATCO's industrial services businesses. Upon completion, current Emera shareholders are expected to own 60.8 percent of the combined entity, which will have an estimated pro-forma enterprise value of $72 billion and serve more than 6 million electric and gas customers. The deal is subject to shareholder and regulatory approvals and is expected to close in Q3 or Q4 2027. Separately, Emera reported third-quarter adjusted net income of $260 million CAD and declared a quarterly dividend increase to $0.7325 per share.