ITC shareholders will receive roughly $44.90 per share - $22.57 in cash and 0.752 Fortis share for each ITC share based on the US dollar/Canadian dollar exchange rate and Fortis’ closing price on Monday. That would represent a 14% premium to that price.
Fortis, the largest investor-owned electric and gas distribution utility in Canada, says the deal will leave ITC shareholders owning 27% of the combined company.
While
