Fortis to buy UNS Energy for about $2.5 bln

Wed Dec 11, 2013 4:50pm EST
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Dec 11 (Reuters) - Canadian power company Fortis Inc said it agreed to buy utility firm UNS Energy Corp for about $2.5 billion in cash to expand its presence in the United States.

The $60.25 per share offer is at a premium of 31.4 percent to UNS' Wednesday close of $45.84 on the New York Stock Exchange. (Reporting by Supantha Mukherjee in Bangalore)