LIPA OKs KeySpan Deal Amid DOJ Probe

Law360, New York (June 7, 2007, 12:00 AM EDT) -- KeySpan Corp. has won approval from local power authorities for its proposed merger with U.K.-based National Grid PLC, though it faces scrutiny from the U.S. Department of Justice over concerns about competition in New York's electricity market.

The board of trustees of the Long Island Power Authority, which owns Long Island's power assets and has contracted KeySpan to manage them, unanimously voted Wednesday to let National Grid take over and extend KeySpan's contract for the region's grid management.

Alberto Bianchetti, a spokesperson for National Grid, hailed...
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