Shareholders approve Avista acquisition by Hydro One - Spokane, North Idaho News & Weather KHQ.com

Shareholders approve Avista acquisition by Hydro One

Posted: Updated:
SPOKANE, Wash. -

Avista shareholders have approved the acquisition of the company by Canadian utility Hydro One.

“We are pleased that our shareholders have demonstrated their strong support of this transaction and the value and benefits it will provide for all of our stakeholders,” Avista Chairman, President and Chief Executive Officer Scott L. Morris said. “The partnership represents a positive step forward for Avista customers, employees, shareholders and the communities we serve, and we look forward to continued progress toward closing the transaction in the second half of 2018.”  

The sale was announced this past summer with a price tag of $5.3 billion. Avista shareholders approved the acquisition, with approximately 79 percent of the outstanding shares of common stock entitled to vote on the proposal voting 98 percent in favor of the merger agreement. 

Upon closing, shareholders will receive $53 per common share, other than Dissenting Shareholder Shares (as defined in the definitive merger agreement) and shares of Avista Corp. common stock that are owned by Hydro One or any of its subsidiaries. Upon closing, Avista will become a wholly-owned indirect subsidiary of Hydro One. Applications for regulatory approval of the transaction are still pending with utility commissions in Washington, Idaho, Oregon, Montana, and Alaska as well as with the Federal Energy Regulatory Commission (FERC).

Will this deal affect your utility rates? According to the companies, no. In fact, the companies claim an enhanced transmission and distribution system will achieve "operation excellence leading to cost savings over time."

More FAQs HERE.

  • Most Popular StoriesMost Popular StoriesMore>>

  • 100+ salons in Washington state have license, sanitation or safety violations

    100+ salons in Washington state have license, sanitation or safety violations

    Thursday, April 26 2018 11:16 PM EDT2018-04-27 03:16:32 GMT

    KHQ.COM - More than 100 nail salons in Washington state recently failed safety and sanitation inspections from the Washington State Department of Licensing. If you think these salons are required to post these violations publicly, think again. Unlike restaurants, there's no letter grade at the door that can tell you if the services inside have been deemed safe.

    >>

    KHQ.COM - More than 100 nail salons in Washington state recently failed safety and sanitation inspections from the Washington State Department of Licensing. If you think these salons are required to post these violations publicly, think again. Unlike restaurants, there's no letter grade at the door that can tell you if the services inside have been deemed safe.

    >>
  • Police: Driver was going 2x the speed limit in deadly crash

    Police: Driver was going 2x the speed limit in deadly crash

    Thursday, April 26 2018 2:12 AM EDT2018-04-26 06:12:50 GMT

    SPOKANE, Wash. - What sounded like an accident has now led to charges against the woman who was behind the wheel. The driver of Tuesday night's deadly crash is being investigated for DUI and vehicular homicide. Detectives say around 9:30 p.m. a man was struck and killed by a driver as he tried to cross the street near 3rd and Liberty Park Place.   Court documents released Wednesday show that the driver, 50-year-old Tamila Lindsly, 

    >>

    SPOKANE, Wash. - What sounded like an accident has now led to charges against the woman who was behind the wheel. The driver of Tuesday night's deadly crash is being investigated for DUI and vehicular homicide. Detectives say around 9:30 p.m. a man was struck and killed by a driver as he tried to cross the street near 3rd and Liberty Park Place.   Court documents released Wednesday show that the driver, 50-year-old Tamila Lindsly, 

    >>
  • PHOTOS: All lanes of I-90 reopen after semi-truck loses load in downtown Spokane

    PHOTOS: All lanes of I-90 reopen after semi-truck loses load in downtown Spokane

    Wednesday, April 25 2018 6:25 PM EDT2018-04-25 22:25:01 GMT

    SPOKANE, Wash. - Jim Martin Trucking LLC out of Hayden, Idaho confirmed with KHQ the driver of the semi-truck involved in Wednesday's crash on I-90 in downtown Spokane is okay and is cooperating with Troopers. The driver, who was hauling crushed cars, says he was cut off by another car, which he says started the chain reaction that caused the crash. 

    >>

    SPOKANE, Wash. - Jim Martin Trucking LLC out of Hayden, Idaho confirmed with KHQ the driver of the semi-truck involved in Wednesday's crash on I-90 in downtown Spokane is okay and is cooperating with Troopers. The driver, who was hauling crushed cars, says he was cut off by another car, which he says started the chain reaction that caused the crash. 

    >>
HD DOPPLER 6i
/
  • Top Stories from KHQHomeMore>>

  • Top education official meets with Idaho students to discuss school safety

    Top education official meets with Idaho students to discuss school safety

    Friday, April 27 2018 12:49 AM EDT2018-04-27 04:49:18 GMT
    Superintendent of Public Instruction Sherri Ybarra paid a visit to Lake City High School yesterday to meet with the same students who organized last week’s panel discussions to continue the conversation regarding school safety. Students raised a variety of questions to the superintendent ranging from what’s being done at the local and state level to make schools safe; as well as the on-going topic of mental health. Ybarra says the new initiative that she’s proposed...>>
    Superintendent of Public Instruction Sherri Ybarra paid a visit to Lake City High School yesterday to meet with the same students who organized last week’s panel discussions to continue the conversation regarding school safety. Students raised a variety of questions to the superintendent ranging from what’s being done at the local and state level to make schools safe; as well as the on-going topic of mental health. Ybarra says the new initiative that she’s proposed...>>
  • 3-year-old run over, killed by lawnmower near Snohomish

    3-year-old run over, killed by lawnmower near Snohomish

    Friday, April 27 2018 12:30 AM EDT2018-04-27 04:30:20 GMT

    SNOHOMISH COUNTY, Wash. - A 3-year-old boy died Thursday evening after the toddler was run over by a lawnmower near Snohomish. According to the Snohomish County Sheriff's Office, the child was riding on his father's lap when he fell off and went under the lawnmower.  He was pronounced dead at the scene.  Deputies said they're seeing this as an accident.  According to deputies, the father wasn't under any influence.  Responding to a 

    >>

    SNOHOMISH COUNTY, Wash. - A 3-year-old boy died Thursday evening after the toddler was run over by a lawnmower near Snohomish. According to the Snohomish County Sheriff's Office, the child was riding on his father's lap when he fell off and went under the lawnmower.  He was pronounced dead at the scene.  Deputies said they're seeing this as an accident.  According to deputies, the father wasn't under any influence.  Responding to a 

    >>
  • Montana man gets 30 years for fatal shooting during botched robbery

    Montana man gets 30 years for fatal shooting during botched robbery

    Friday, April 27 2018 12:14 AM EDT2018-04-27 04:14:42 GMT

    BILLINGS, Mont. (AP) - A man who shot another man to death during a botched robbery in southern Montana has been sentenced to 30 years in prison. The Billings Gazette reports 38-year-old Ross Breshears was sentenced Thursday for the October 2015 death of 25-year-old Clinton Oldbull. Breshears struck a deal and pleaded guilty in January to deliberate homicide. Prosecutors say he and 30-year-old Garrett Crandell went to Oldbull's Billings home, where Oldbull was shot during a ...

    >>

    BILLINGS, Mont. (AP) - A man who shot another man to death during a botched robbery in southern Montana has been sentenced to 30 years in prison. The Billings Gazette reports 38-year-old Ross Breshears was sentenced Thursday for the October 2015 death of 25-year-old Clinton Oldbull. Breshears struck a deal and pleaded guilty in January to deliberate homicide. Prosecutors say he and 30-year-old Garrett Crandell went to Oldbull's Billings home, where Oldbull was shot during a ...

    >>