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Hawaiian Electric acquisition wins more local support

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Hawaiian Electric acquisition wins more local support

NextEra EnergyInc.'s proposed $4.3 billion purchase of hasgarnered support of five Native Hawaiian organizations.

The organizations are the Native Hawaiian Chamber ofCommerce, Native Hawaiian Hospitality Association, Imua Hawaii, SovereignCouncils of the Hawaiian Homelands Assembly and King Kamehameha Hawaiian Civic Club,according to a March 28 statement from both companies. Including these, morethan 70 groups and organizations have backed the merger, which was in December 2014.

The companies say the proposed deal will provide for greaterinvestment in Hawaii's electric grid along with making way for more renewableenergy.

NextEra and Hawaiian Electric Industries have alreadyextended the saleclosing date until June 3, but analysts have speculated that NextEra may callit quits if the deal is not approved in June.