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Fortis Inc. completed a public offering of 44,275,000 subscription receipts for gross proceeds of $1,151,150,000.  The proceeds of the offering, which was underwritten by a syndicate of underwriters led by CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc., will be used, subsequent to obtaining all required approvals and satisfaction or waiver of applicable closing conditions, to finance the cash portion of the purchase price for the proposed acquisition by Fortis of all of the issued and outstanding shares of Terasen Inc.  Davies represented Fortis Inc.

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2007