Fortis acquires ITC Holdings (2016)
Fortis, a Canadian utility holding company, agreed to buy ITC Holdings, a US electricity transmission company, for about $11.3 billion. The deal made Fortis one of the largest utility companies in North America.
The deal closed in late 2016, expanding Fortis's footprint into the US transmission market.
It demonstrated that Canadian utilities could grow through large cross-border acquisitions.
Like the Emera-Canadian Utilities deal, it shows Canadian utility companies using scale to fund large infrastructure investments.
