28.02.2015 00:00:00
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Iberdrola USA -- Moody's: The proposed merger between Iberdrola US and UIL Holdings no immediate ratings impact for Iberdrola USA
New York, February 27, 2015 -- On February 25, 2015, Iberdrola USA (IUSA; Baa1 negative) and UIL Holdings Corporation (Baa2 stable) announced their plans to merge in a stock-for-stock exchange. The transaction creates a combined entity with an enterprise value of $17.9 billion. UIL shareholders will receive one share of the newly-listed US company for each UIL share and a cash payment of $10.50, or about $600 million on an aggregate basis.