(“Hydro One”) announced today that negotiations on the proposed acquisition of Peterborough Distribution Inc. have ceased as both parties were unable to reach a final agreement.
The role of both parties in these commercial negotiations is to ensure that the end result is an outcome that creates customer and shareholder value. In this particular case, despite the strong offer made to the City of Peterborough, the two parties were unable to achieve that balance.
Hydro One would like to thank Mayor Bennett, the City of Peterboroughand members of both negotiating teams and looks forward to continuing its relationship as long-time neighbours and proud members of the Peterborough community.
SOURCE Hydro One Limited