Hydro One, Avista end merger after US state regulators reject deal

Canadian electric utility Hydro One Limited and its US-based rival Avista Corp have agreed to terminate their merger after failing to receive regulatory backing. Hydro One had proposed to buy Avista for $5.02 billion in 2017 to expand into the US Northwest. However, the Washington Utilities and Transportation Commission rejected the deal. A petition to reconsider the decision was also denied by the Washington state regulator. Now, Hydro One will pay Avista $103 million as termination fees.

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