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NYSE Euronext, Inc.

No More Time: Regulators Reject UIL Holdings, Iberdrola Request For Extension To Save Merger

One day after preliminarily rejecting the merger of UIL Holdings and the U.S. operations of Iberdrola, Connecticut regulators swiftly rejected a proposal from the two companies for a two-month extension to address regulators' concerns. Explaining that reviewing additional information would take much more time than that, Connecticut's Public Utilities Regulatory Authority told the companies they are always welcome to start again from the beginning and file a new merger application. The denial of the extension throws into disarray the companies' efforts to rescue the $3 billion merger, which would have created an $18 billion energy distribution company with more than 3.1...

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