Emera to acquire Canadian Utilities in $14.3 billion deal

Halifaxbased Emera said it will acquire Canadian Utilities in an allstock transaction valued at $14.3 billion, creating one of Canada’s largest utility companies. The combined business is expected to be worth about $72 billion. Under the deal, Emera shareholders would own about 60 per cent of the merged company, while Canadian Utilities shareholders would hold about 40 per cent. The companies said the merger is aimed at helping fund grid and transmission investments as electricity demand rises across North America. Emera said the combined company will keep its headquarters in Halifax and be led by CEO Scott Balfour when the transaction is expected to close in the third or fourth quarter of 2027. ATCO, which controls Canadian Utilities’ voting shares, will spin off into a separate publicly traded industrial services company called New ATCO.