ITC shareholders approve company's $11.3 bln acquisition by Fortis
Shareholders of ITC Holdings Corp (NYSE: ITC) have approved the company's acquisition by Fortis Inc (TSX: FTS). The deal, announced earlier this year, is valued at US$11.3 billion. It is expected to close by the end of 2016. Fortis, a Canadian electric and gas utility business, is partnering in the buy with GIC, Singapore’s sovereign wealth fund. GIC agreed in April to acquire a minority stake in ITC, a U.S. electricity transmission company, for about US$1.2 billion.
23 June 2016•7 mins read
