Fortis acquisition of ITC Holdings progresses, on track to close by year end 2016
Written By: Stratton Report
August 12, 2016
On August 12, ITC Holdings Corp. announced the Hart-Scott-Rodino waiting period for Fortis’ proposed acquisition of ITC expired on August 10, 2016.
Barry Perry, President and CEO of Fortis remarked:
“Expiration of the waiting period under the HSR Act is seen as continued progress toward the completion of the transaction. We remain on track to close the deal by the end of the year.”
The closing of the acquisition of ITC requires other regulatory authorizations, including state approvals.