1. Canada: Hydro One’s Avista Takeover Rejected, Ford Government Interference Cited

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    Canada: Hydro One’s Avista Takeover Rejected, Ford Government Interference Cited

    Washington State regulators say they have denied Hydro One Ltd.'s proposed takeover of Avista Corp. citing political interference in the Ontario utility by the Doug Ford government...

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    1. Provincial government interference in Hydro One's affairs, the risk of which has been shown by events to be significant, could result in direct or indirect harm to Avista if it were acquired by Hydro One, as proposed.
    2. The province subsequently passed a law limiting the compensation of the company's executives and providing for ongoing involvement by the province in matters typically reserved to executive management and the board of a private company.
    3. Our government will always stand up for the largest shareholder of Hydro One, the people of Ontario.

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