Hydro One and Avista extend their merger End Date
September 19 2018 - 6:00PM
Hydro One Limited (“Hydro One”) (TSX: H) and Avista Corporation
(“Avista”) (NYSE: AVA) announced today that Hydro One has received
a notice from Avista to extend the transaction End Date to March
29, 2019, as provided for in the merger agreement.
Under the merger agreement, the transaction End
Date was originally September 30, 2018. Either party has the right
to unilaterally extend that date by up to six months. Hydro One and
Avista continue to expect to close the transaction in the fourth
quarter of 2018.
For further information:
Hydro One
Media:Jay ArmitageDirector, Corporate
Communicationsmedia.relations@hydroone.com, 416-345-6868
Investors:Omar JavedVice President, Investor
Relationsinvestor.relations@hydroone.com, 416-345-5943
Avista
Media: Casey Fielder, Communications Manager
casey.fielder@avistacorp.com, 509-495-4916
Investors:Lauren Pendergraft, Investor Relations
Managerlauren.pendergraft@avistacorp.com, 509-495-2998
About Hydro One:We are
Ontario's largest electricity transmission and distribution
provider with more than 1.3 million valued customers, over C$25
billion in assets and 2017 annual revenues of nearly C$6 billion.
Our team of over 7,400 skilled and dedicated regular and
non-regular employees proudly and safely serves suburban, rural and
remote communities across Ontario through our 30,000 circuit km of
high-voltage transmission and 123,000 circuit km of primary
distribution networks. We are one of only six utility companies in
Canada to achieve the Sustainable Electricity Company designation
from the Canadian Electricity Association. We also provide advanced
broadband telecommunications services on a wholesale basis
utilizing our extensive fibre optic network through Hydro One
Telecom Inc. Hydro One Limited's common shares are listed on the
Toronto Stock Exchange (TSX: H). For more information about
everything Hydro One, please visit www.HydroOne.com.
Forward-Looking Statements and Information
This press release may contain “forward-looking
information” within the meaning of applicable securities laws.
Words such as “expect,” “anticipate,” “intend,” “attempt,” “may,”
“plan,” “will,” “can,” “believe,” “seek,” “estimate,” and
variations of such words and similar expressions are intended to
identify such forward-looking information. These statements are not
guarantees of future performance or actions and involve assumptions
and risks and uncertainties that are difficult to predict.
Therefore, actual outcomes and results may differ materially from
what is expressed, implied or forecasted in such forward-looking
information. Some of the factors that could cause actual results or
outcomes to differ materially from the results expressed, implied
or forecasted by such forward-looking information, including some
of the assumptions used in making such statements, are discussed
more fully in Hydro One’s filings with the securities regulatory
authorities in Canada, which are available on SEDAR at
www.sedar.com. Hydro One does not intend, and it disclaims any
obligation, to update any forward-looking information, except as
required by law. About Avista CorporationAvista
Corporation is an energy company involved in the production,
transmission and distribution of energy as well as other
energy-related businesses. Avista Utilities is our operating
division that provides electric service to 383,000 customers and
natural gas to 349,000 customers. Its service territory covers
30,000 square miles in eastern Washington, northern Idaho and parts
of southern and eastern Oregon, with a population of 1.6 million.
Alaska Energy and Resources Company is an Avista subsidiary that
provides retail electric service in the city and borough of Juneau,
Alaska, through its subsidiary Alaska Electric Light & Power
Company. Avista stock is traded under the ticker symbol "AVA." For
more information about Avista, please visit www.myAvista.com.
This news release contains forward-looking
statements regarding the company’s current expectations.
Forward-looking statements are all statements other than historical
facts. Such statements speak only as of the date of the news
release and are subject to a variety of risks and uncertainties,
many of which are beyond the company’s control, which could cause
actual results to differ materially from the expectations. These
risks and uncertainties include, in addition to those discussed
herein, all of the factors discussed in the company’s Annual Report
on Form 10-K for the year ended Dec. 31, 2017 and the Quarterly
Report on Form 10-Q for the quarter ended June 30, 2018.
Avista (NYSE:AVA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Avista (NYSE:AVA)
Historical Stock Chart
From Apr 2023 to Apr 2024