Avista selling to Canadian firm Hydro One for $5.3 billion

Spokane’s homegrown utility, Avista Corp., is being sold for $5.3 billion to a Canadian company. The sale to Hydro One Ltd., described as a friendly acquisition, is expected to be finalized next year. The deal creates one of North America’s largest regulated utilities, but will allow Avista to remain headquartered in Spokane, operating as a subsidiary of Hydro One. -- More...