Spain's Iberdrola to buy UIL Holdings for about $3 billion

http://ift.tt/eA8V8J UIL shareholders will receive one share in the new company for each share they own plus $10.50 per share in cash, the companies said in a statement. "The transaction integrates Iberdrola USA and UIL, is consistent with group strategy and creates a significant company in the United States, a key market in which we are taking a major step forward," said Ignacio Galán, Iberdrola's chairman. Energy East, now known as Iberdrola USA, delisted from the New York Stock Exchange in 2008 and became a wholly-owned subsidiary of Iberdrola SA. Iberdrola and UIL will continue to have offices in New Haven, Connecticut, Massachusetts, Maine and New York.



from Yahoo! Finance: Top Stories http://ift.tt/1JOXjKX

via IFTTT