Conn. Agency Contests $4.3B Northeast-NStar Merger

Law360, New York (July 1, 2011, 4:47 PM EDT) -- A Connecticut consumer advocacy agency sought Thursday to force a state utility regulator to review the $4.3 billion merger between Northeast Utilities System and NStar, arguing the regulator is required to approve the deal because it creates a new company.

Hartford, Conn.-based Northeast Utilities and Boston-based NStar announced the stock-for-stock agreement in October, in what they called a merger of equals. The tie-up is set to create one of the nation's largest utilities, worth an estimated $17.5 billion.

In its petition for administrative appeal filed in...
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