New Approval May Unlock Door To KeySpan Merger

Law360, New York (July 9, 2007, 12:00 AM EDT) -- Though the merger is still facing scrutiny from the U.S. Department of Justice, U.K.-based National Grid PLC has cleared another hurdle regarding its proposed acquisition of KeySpan by securing the approval of the New York State Public Service Commission.

On Tuesday, National Grid revealed that it had reached a settlement with the NYPSC after satisfying the agency's concerns about competition in New York's electricity market.

“This agreement is a major step forward in completing the merger and bringing significant benefits of the combined companies to our...
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