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The Federal Energy Regulatory Commission (FERC) has approved the acquisition of New York-based energy delivery company CH Energy Group Inc. by Canadian distribution utility Fortis Inc. upon finding that the transaction is consistent with the public interest.

The ruling is the next step toward finalizing the deal. The transaction remains subject to review by the Committee on Foreign Investment in the U.S., the U.S. Department of Justice, the Federal Trade Commission and the New York State Public Service Commission.

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