Commission Backs $7.3B KeySpan Deal

Law360, New York (August 24, 2007, 12:00 AM EDT) -- After months of back and forth, The New York State Public Service Commission has unanimously approved the $7.3 billion merger of KeySpan Corp. and British power giant National Grid PLC, removing one of the last remaining obstacles to the buyout deal.

On Wednesday, the Commission formally signed off on the merger, setting the stage for the acquisition to go through as long as certain conditions regarding service quality and other customer safeguards are met.

“The joint proposals with conditions that have been presented by the advisory...
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