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Empresas y finanzas

Iberdrola USA to buy UIL Holdings


    (Reuters) - Iberdrola USA will buy UIL Holdings Corp for about $3 billion to create a newly listed U.S. electric utility.

    UIL shareholders will receive one share in the new company for each share they own plus $10.50 per share in cash, the companies said in a statement.

    The proposed deal implies a total value of $52.75 per share, which includes the cash component, representing a 25 percent premium to UIL's closing price on Feb. 25.

    UIL Chief Executive James Torgerson will become the new company's CEO.

    (Reporting by Supriya Kurane in Bengaluru; Editing by Anupama Dwivedi)