CEOs at Canada’s largest utilities would be reluctant to admit it publicly, but for the past year, they’ve taken advantage of what they privately like to call “lazy” balance sheets at their U.S. rivals to stage a series of bold takeovers.
Led by massive acquisitions from pipeline companies Enbridge and TransCanada, six domestic businesses spent approximately $87-billion in the past 12 months snapping up U.S. firms. These are transformative deals, as each buyer vaulted to the leading ranks of North American utilities. For Canadians, the takeovers are a refreshing reverse of the trend that saw local champions in sectors such as mining and manufacturing picked off by foreign buyers.Report Typo/Error
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- Enbridge Inc$53.46-0.14(-0.26%)
- Enbridge Inc$39.86+0.16(+0.40%)
- TransCanada Corp$63.77+0.25(+0.39%)
- TransCanada Corp$47.50+0.49(+1.04%)
- Emera Inc$47.64+0.13(+0.27%)
- Algonquin Power & Utilities Corp$13.67+0.08(+0.59%)
- Algonquin Power & Utilities Corp$10.22+0.17(+1.69%)
- Fortis Inc$44.19+0.43(+0.98%)
- Fortis Inc$32.91+0.54(+1.67%)
- Altagas Ltd$30.59-0.12(-0.39%)
- WGL Holdings Inc$82.96+0.18(+0.22%)
- JPMorgan Chase & Co$85.71-0.05(-0.06%)
- Updated May 24 4:00 PM EDT. Delayed by at least 15 minutes.