Entergy, ITC Seek Feds' OK For $1.8B Transmission Spinoff

Law360, New York (September 25, 2012, 8:16 PM EDT) -- Entergy Corp. and ITC Holdings Corp. asked electricity regulators Monday to approve a $1.78 billion deal to spin off Entergy’s transmission business and merge it with ITC — a move that would make ITC one of the country’s largest transmission companies.

Unveiled in December, the deal would allow Entergy’s utility units to divest their transmission businesses and facilitate the company’s proposal to move from its own transmission network to the Midwest Independent System Operator.

Entergy and ITC filed a joint application with the Federal Energy Regulatory...
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