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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Algonquin Power & Utilities Corp.
Actual Acquirer: Liberty Energy Utilities Co.
Target: California Pacific Electric Company
Deal Type: Utility
Agreement Date4/29/2011
Announcement Date4/29/2011
Announcement Deal Value ($000)40,855
Short-term and Current Long-term Debt ($000)NA
Cash and Cash Equivalents ($000)NA
Current Investments ($000)NA
Inventories ($000)NA
Obligations under Capital Leases ($000)NA
Postretirement Benefits ($000)NA
Announced Transaction Value ($000)40,855
StatusCompleted
Completion Date12/21/2012
Announced Deal Value Per Share ($)NA
Consideration Breakout
Unclassified ($M)39.2
Deal Terms
Description of Consideration
Algonquin Power & Utilities paid approx. $39.2 million to acquire a 49.99% interest in California Pacific Electric Co. from Emera Inc.
Accounting MethodAcquisition
Merger of Equals?
Geographic Expansion?In Market
Goodwill Generated ($000)NA
Estimated Cost Savings (%)NA
Est. Restructuring Charges ($000)NA
Termination Fee ($000)
Exchange Ratio (Common For Common)NA
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerNANA

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesHusch Blackwell LLP
SellerYesTroutman Sanders LLP