The New York State Public Service Commission (NYPSC) unanimously voted to approve the transaction on 22 August 2007; this was the final regulatory approval required. Our decision to complete the transaction follows a review of the NYPSC’s written order, issued on 23 August 2007.
On 27 February 2006, National Grid and KeySpan announced that they had reached agreement under which National Grid will acquire KeySpan for a cash consideration of approximately $7.3 billion (£4.2 billion) plus assumption of $4.5 billion (£2.6 billion) of debt. This acquisition is a natural extension of National Grid's business and provides enhanced growth platform and savings of $200 million per year identified.
KeySpan is an excellent strategic and operational fit with National Grid.
Please click here for the KeySpan Financial Archive where you will find all the historic information, press releases, presentations, share price data, etc relating to KeySpan.