Mergers & Acquisitions ·
Emera Inc. agrees to acquire ATCO Ltd. and Canadian Utilities Limited for $14.5B in stock
EMAEmera Inc
Emera Incorporated has entered into an Arrangement Agreement with ATCO Ltd., Canadian Utilities Limited, and SpinCo to acquire all outstanding shares of ATCO and Canadian Utilities. The transaction values the combined entities at approximately $14.5 billion, with consideration paid through the issuance of Emera common shares. As part of the deal, ATCO will spin off its non-regulated businesses into a new entity called SpinCo, which will be distributed to ATCO shareholders on a pro-rata basis. The boards of all three companies have unanimously recommended the transaction. Closing is subject to shareholder approvals and key regulatory clearances, including antitrust reviews in Canada, Australia, Mexico, and the U.S., with an outside date of December 31, 2027. Emera Inc. operates as a diversified energy company providing electricity and natural gas services primarily in North America.