Canadian utility Fortis Inc said it will acquire CH Energy Group Inc for about $1 billion. Last November, Fortis had said it was looking to expand in the United States and could have as many U.S. assets as Canadian within 10 years.
Fortis Inc. (Fortis) is a distribution utility holding company. Shares of FTS remained unchanged at $32.85. In the past year, the shares have traded as low as $28.24 and as high as $34.39. On average, 576190 shares of FTS.TO exchange hands on a given day and today's volume is recorded at 0.
CH Energy Group, Inc. (CH Energy Group) is the holding company of Central Hudson Gas & Electric Corporation (Central Hudson) and Central Hudson Enterprises Corporation (CHEC). Shares of CHG remained unchanged at $58.77. In the past year, the shares have traded as low as $47.44 and as high as $59.74. On average, 53975 shares of CHG exchange hands on a given day and today's volume is recorded at 2400.
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