Miss. Blocks Entergy's $1.8B Transmission Sale

Law360, New York (December 10, 2013, 1:47 PM EST) -- The Mississippi Public Service Commission unanimously blocked part of Entergy Mississippi Inc.'s proposed $1.78 billion divestment of electric transmission lines to ITC Holding Corp., the commission said Tuesday. 

Under the plan, Entergy proposed to divest its electric transmission business to a newly formed entity, Mid South TransCo LLC, and distribute the entity to its shareholders in the form of a spinoff, after which TransCo would merge with a new subsidiary of ITC in an all-stock transaction called a Reverse Morris Trust. The Federal Energy Regulatory Commission approved...
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