January 23, 2019 / 10:31 PM / 10 months ago

Hydro One, Avista end merger after U.S. state regulators reject deal

Jan 23 (Reuters) - Canadian electricity producer Hydro One Ltd and U.S.-based peer Avista Corp have agreed to terminate their merger after failing to receive approval from regulators in Washington and Idaho states.

Hydro One had proposed to buy Avista for C$6.7 billion ($5.02 billion) in 2017 as it sought to expand into the U.S. Northwest.

The Canadian company will pay Avista $103 million in merger termination fees, it said in a statement. (Reporting by Soundarya J in Bengaluru; Editing by Sai Sachin Ravikumar)

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