The U.S. Committee on Foreign Investment has cleared Hydro One Ltd.'s proposed acquisition of Avista Corp., saying there are "no unresolved national security concerns" tied to the US$5.3 billion all-cash deal.
So far, the transaction has received approvals from the Federal Communications Commission, the Federal Trade Commission, the Federal Energy Regulatory Commission and Avista shareholders.
The deal is now pending approvals from utility regulators in Alaska, Idaho, Oregon, Montana and Washington. The companies recently filed all-parties, all-issues settlement agreements in Alaska, Idaho and Washington and intend to file a settlement agreement with Oregon regulators later this month.
Hydro One and Avista continue to anticipate closing the deal in the second half of this year.
