Canadian power utility Fortis Inc is looking to expand in the United States and could have as many U.S. assets as Canadian within 10 years, a top Fortis executive said on Monday. Fortis Chief Financial Officer Barry Perry said in an interview that the company's preference is to acquire regulated transmission and distribution utilities, but that it would also consider buying utilities with generation assets as long as they are regulated."Our focus really is solely on the U.S. market at this point," Perry said on the sidelines of the Edison Electric Institute financial conference.Fortis has already been considering transactions as large as $5 billion to $6 billion in the United States, he said.
Fortis Inc. (Fortis) is a distribution utility holding company. Shares of FTS traded higher by 0.24% or $0.08/share to $33.76. In the past year, the shares have traded as low as $28.24 and as high as $35.45. On average, 488827 shares of FTS.TO exchange hands on a given day and today's volume is recorded at 55597.
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