Energy East said Monday it has suspended transactions under its investor services program because of its pending acquisition by Iberdrola.
The program will be terminated if the deal is completed, said Energy East, parent of New York State Electric & Gas. There would be no need for the program because Energy East common stock would no longer be publicly traded if Iberdrola acquires all of the Energy East stock.
The $4.5 billion acquisition is subject to closing conditions, including approval from the state Public Service Commission. The PSC is expected to vote on the deal Wednesday.
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