Deals
Hydro One Avista Deal Nixed Again on Political `Intrusions'
- Idaho regulators cite interference by Ontario Premier Ford
- Move comes a month after Washington state rejected the deal
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Idaho regulators rejected Hydro One Ltd.’s $3.4 billion takeover of Avista Corp, the second time state officials cited political risks in Ontario as grounds to nix the Canadian company’s effort to buy the U.S. utility.
The Idaho Public Utilities Commission said “the management of Hydro One is subject to the province’s political pressure,” and the takeover would therefore be prohibited under Idaho law, according to a statement Thursday. The sale of Spokane, Washington-based Avista can’t proceed without approval from state regulators.