|By Marketwired .||
|June 13, 2014 03:32 PM EDT||
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 06/13/14 -- Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS) and UNS Energy Corporation ("UNS Energy") (NYSE:UNS) today announced the receipt of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR Act"), in connection with the previously announced acquisition of UNS Energy by Fortis.
Termination of the waiting period under the HSR Act satisfies one of the last remaining conditions necessary for consummation of the transaction. The transaction received UNS Energy shareholder approval in March 2014 and approval from the Federal Energy Regulatory Commission and the Committee on Foreign Investment in the United States in April 2014 and May 2014, respectively. The transaction remains subject to review by the Arizona Corporation Commission and the satisfaction of other customary closing conditions.
About Fortis: Fortis is the largest investor-owned distribution utility in Canada, with total assets of approximately $18.6 billion and fiscal 2013 revenue exceeding $4 billion. Its regulated utilities account for approximately 90% of total assets and serve approximately 2.5 million customers across Canada and in New York State and the Caribbean. Fortis owns non-regulated hydroelectric generation assets in Canada, Belize and Upstate New York. The Corporation's non-utility investment is comprised of hotels and commercial real estate in Canada.
About UNS Energy: UNS Energy is a vertically integrated utility services holding company, headquartered in Tucson, Arizona, engaged through three subsidiaries in the regulated electric generation and energy delivery business, primarily in the State of Arizona, serving approximately 657,000 electricity and gas customers.
Fortis includes forward-looking information in this material within the meaning of applicable securities laws in Canada ("forward-looking information"). The purpose of the forward-looking information is to provide management's expectations regarding the Corporation's future growth, results of operations, performance, business prospects and opportunities, and it may not be appropriate for other purposes. All forward-looking information is given pursuant to the safe harbour provisions of applicable Canadian securities legislation. The words "anticipates", "believes", "budgets", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "projects", "schedule", "should", "will", "would" and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words. The forward-looking information reflects management's current beliefs and is based on assumptions developed using information currently available to the Corporation's management. Although Fortis believes that the forward-looking statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties. For additional information on risk factors that have the potential to affect the Corporation, reference should be made to the Corporation's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities and to the heading "Business Risk Management" in the Corporation's annual and quarterly Management Discussion and Analysis. Except as required by law, the Corporation undertakes no obligation to revise or update any forward-looking information as a result of new information, future events or otherwise after the date hereof.
Ms. Donna Hynes
Manager, Investor and Public Relations
Jul. 7, 2015 03:45 PM EDT Reads: 2,341
Jul. 7, 2015 03:45 PM EDT Reads: 2,668
Jul. 7, 2015 03:45 PM EDT Reads: 1,346
Jul. 7, 2015 03:45 PM EDT Reads: 846
Jul. 7, 2015 03:36 PM EDT Reads: 214
Jul. 7, 2015 03:30 PM EDT Reads: 576
Jul. 7, 2015 03:30 PM EDT Reads: 2,328
Jul. 7, 2015 03:30 PM EDT Reads: 1,765
Jul. 7, 2015 03:30 PM EDT Reads: 1,916
Jul. 7, 2015 03:30 PM EDT Reads: 2,412
Even as cloud and managed services grow increasingly central to business strategy and performance, challenges remain. The biggest sticking point for companies seeking to capitalize on the cloud is data security. Keeping data safe is an issue in any computing environment, and it has been a focus since the earliest days of the cloud revolution. Understandably so: a lot can go wrong when you allow valuable information to live outside the firewall. Recent revelations about government snooping, along...
Jul. 7, 2015 03:00 PM EDT Reads: 2,348
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
Jul. 7, 2015 03:00 PM EDT Reads: 2,705
"We have an new division call the Cloud Monetization Division, based on our platform Powua, which empowers enterprises and organizations to take the journey to cloud monetization and to make it a reality," explained Ian Khan, Manager, Innovation & Marketing at Solgenia, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 7, 2015 02:45 PM EDT Reads: 601
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
Jul. 7, 2015 02:45 PM EDT Reads: 2,058
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Jul. 7, 2015 02:45 PM EDT Reads: 1,621