Westborough, MA, and Brooklyn, NY, June 9, 2006 — National Grid and KeySpan Corp. filed information in compliance with the Hart-Scott-Rodino Antitrust Improvements Act, a requirement of their proposed transaction.
Under the act, the companies furnished required information to the Antitrust Division of the Department of Justice and to the Federal Trade Commission. The HSR filings were made separately by each company.
In addition, National Grid and KeySpan made voluntary notice to the Committee on Foreign Investment in the United States that National Grid, a London-headquartered company, is acquiring a U.S. company.
In both the HSR and CFIUS filings, the applicable federal authority has 30 days to determine if the filings require further review.
On February 27, 2006, National Grid and KeySpan announced an agreement for National Grid to acquire KeySpan, which will materially expand the size of National Grid’s US operations and create the third-largest gas delivery utility in the United States.
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