Liam Denning, Columnist

The ITC Utilities Acid Test

Why pay social-media multiples for wires?

December 3, 2015 at 5:57 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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ITC Holdings suddenly fancies itself the blushing bride. Unlike most weddings, though, if this one comes off investors should train their eyes on the groom.

ITC's stock jumped on this week's surprise announcement that it may sell itself. While any deal wouldn't be a shotgun wedding per se, let's just say ITC probably would prefer to dispense with a long engagement. As Bloomberg Gadfly's Gillian Tan wrote earlier this week, ITC's announcement comes amid a boom in utility M&A, with recent deals being done at high premiums.