CH Energy Group (CHG) announced Tuesday morning that it agreed to be acquired by Fortis Inc. for an aggregate purchase price of approximately $1.5 billion, including the assumption of approximately $500 million of debt.
CH Energy Group gapped open dramatically higher Tuesday, but traded in a narrow range for the majority of the session. Shares finished up by 7.45 at $66.22 on the highest volume of the year. The stock surged to a new high for the year.
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