CVPSCCentral Vermont Public Service Corporation
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CVPSC serves about 160,000 customers across the state of Vermont.Country: , USASector: UtilitiesTarget: Central Vermont Public Service CorporationBuyer: Fortis IncDeal size in USD: 470mType: Corporate acquisitionStatus: Agreed
The deal, that will help Fortis to establish a presence on the US utility market, values CVPSC at USD35.10 per share in cash, representing a premium of 44% to its closing share price on Friday.
Canada-based distribution utility holding company Fortis (TSE:FTS) unveiled an agreement to buy US electricity supplier Central Vermont Public Service Corp (NYSE:CV), or CVPSC, for USD470m (EUR326.9m).