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June 13, 2014
15:37 EDTUNSUNS Energy, Fortis announce early termination of HSR waiting period
Fortis and UNS Energy announced the receipt of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the previously announced acquisition of UNS Energy by Fortis. Termination of the waiting period under the HSR Act satisfies one of the last remaining conditions necessary for consummation of the transaction. The transaction received UNS Energy shareholder approval in March and approval from the Federal Energy Regulatory Commission and the Committee on Foreign Investment in the U.S. in April and May, respectively. The transaction remains subject to review by the Arizona Corporation Commission and the satisfaction of other customary closing conditions.
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July 29, 2014
08:41 EDTUNSUNS 'hopeful' ACC will approve settlement before end of September
The company said, In May, a settlement agreement regarding the merger was filed with the Arizona Corporation Commission. The settlement agreement was endorsed by UNS Energy, Fortis, ACC Staff, the Residential Utility Consumer Office, customer representatives, labor unions and other parties. The settlement agreement contains several conditions, including $30M of customer bill credits. I am pleased with the progress we've made towards completing the merger with Fortis and with the support we have received from our customers, the community and other key stakeholders. We are hopeful the ACC will approve the transaction before the end of September so we can begin to share the benefits of the merger with our customers."
08:39 EDTUNSUNS Energy reports Q2 EPS $1.01, consensus 92c
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