Emera agrees to acquire ATCO’s Canadian Utilities for C$72B

ATCO: ATCO is an Alberta-based company that holds a controlling stake in Canadian Utilities Ltd. and has historically operated across utilities and industrial services sectors. Under the deal terms it will separate its non-utility businesses, including housing, defence, and ports activities, into a new publicly traded entity while its utility interests combine with Emera. The transaction enables ATCO to streamline its focus ahead of the integration. Emera: Emera is a Halifax-headquartered Canadian energy company focused on regulated electricity generation, transmission, and distribution as well as natural gas utilities with operations spanning Canada, the United States, and the Caribbean. It is the acquirer in the announced transaction to combine with Canadian Utilities Ltd., creating a larger platform to address rising power needs across multiple jurisdictions. The combined entity will continue to operate under the Emera name with headquarters in Halifax. Canadian Utilities Ltd.: Canadian Utilities Ltd. is a Calgary-based utility provider delivering electricity and natural gas services with a primary focus on Alberta along with operations in other parts of Canada and select international markets. It is the entity being acquired by Emera in the merger agreement backed by its controlling shareholder ATCO. Post-transaction, its corporate and operational headquarters will remain in Calgary and Edmonton while integrating into the larger Emera organization. Power Demand: Canadian utilities are consolidating to better meet growing electricity requirements driven by electrification trends and major infrastructure projects. Industry Trend: Utilities are pursuing scale through mergers to support expanded capital programs and respond to rising energy needs from data centers and other developments. Market Positioning: The combined company seeks to strengthen its presence in high-growth regions including Alberta and Florida while maintaining regulated operations across a diversified North American footprint.