Reuters exclusively reported that Canadian utility Hydro One was seeking deals worth up to C$500 million to boost its customer base. The story also revealed that the Ontario regulator was encouraging more mergers in the sector in order to help reduce power bills for customers. Hydro One was hiring more M&A bankers to execute its strategy.
Reuters exclusively reports Canada’s Hydro One seeking bigger M&A targets to boost customers
Hydro Stock fell more than 1.2% after the Reuters story was published, while the broader market rose.