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December 6, 2018

State denies $5.3B sale of Avista Corp.

OLYMPIA (AP) — Washington state regulators have denied the proposed $5.3 billion sale of Spokane, Washington-based Avista Corp. to a Canadian utility.

The Utilities and Transportation Commission said in Wednesday's order that the proposed merger with Toronto-based Hydro One Ltd. doesn't adequately protect Avista or the utility's customers from political or financial risk.

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