June 3, 2019 / 11:53 AM / 3 months ago

El Paso Electric to be bought by an infrastructure fund for $2.78 bln

June 3 (Reuters) - Utility El Paso Electric Co will be acquired by an infrastructure fund for $2.78 billion in an all-cash deal, the firms said on Monday.

Infrastructure Investments Fund, which is advised by J.P. Morgan Investment Management, will pay $68.25 for each share of El Paso Electric, which represents a premium of 17.3% to the company’s Friday close. (Reporting by Debroop Roy in Bengaluru; Editing by Shailesh Kuber)

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