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National Grid to buy KeySpan for $7.3bn cash

KeySpan shareholders will receive $42.00 in cash per share. Upon completion of the deal, National Grid will serve nearly 8 million customers in New York State and New England, the companies said.

National Grid - owner and operator of Britain’s power grid - already distributes electricity and natural gas to nearly 4 million customers in the US, including Massachusetts, New Hampshire, New York and Rhode Island.

New York-based KeySpan is the largest gas-distribution company in the Northeast

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