Tag: CH Energy

Why is Fortis Acquiring CH Energy?

Fortis, Inc (TSX: FTS), a Canadian utility company, announced yesterday that it is acquiring CH Energy Group (NYSE: CHG) for $1B in cash plus the assumption of $500K in debt, which is about 10x 2011 EBITDA. CH Energy, which is a public utility headquartered in Poughkeepsie, NY, said this about the benefits of the acquisition: …

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