Hydro One Ltd. (TSX:H) has signed a friendly deal to acquire U.S. energy company Avista Corp. for C$6.7 billion in an all-cash deal that would create one of the largest regulated utilities in North America. Hydro One and Avista Corp. say there will be no job losses as a result of the merger. (Chris Seto/CBC)"Together we can and will create a stronger, more innovative, more customer focused energy leader," Schmidt said. Deal approved unanimouslyOntario Energy Minister Glenn Thibeault said: 'We welcome the fact that this proposed acquisition will not impact the rates that Ontario customers pay. ' "It is expected to deliver clear benefits for the company's customers, employees and shareholders — including the people of Ontario," Thibeault said in a statement.

Source: CBC News July 19, 2017 21:59 UTC