Skadden Reps National Grid In $285M Algonquin Deal

Law360, New York (December 9, 2010, 7:39 PM EST) -- Algonquin Power & Utilities Corp. said Thursday that it had reached a $285 million deal to buy two New Hampshire utilities from National Grid PLC, two days after the Canadian company committed to acquiring half of a California electric utility.

Oakville, Ontario-based APUC, which already has significant holdings in water utilities in the U.S., agreed to purchase Granite State Electric Co. for $83 million and EnergyNorth Natural Gas Inc. for $202 million, according to a statement from APUC.

The purchase price represents a 13 percent premium...
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