Northeast Utilities (Connecticut) and NSTAR approved a definitive merger agreement that will create one of the nation’s largest utilities, with a total enterprise value of $17.5bn. The Company will continue to be called Northeast Utilities. Following completion of the merger, it is anticipated that Northeast Utilities shareholders would own approximately 56% and NSTAR shareholders would own approximately 44% of the combined company. The combined company will operate six regulated electric and gas utilities in three states and will have nearly 3.5 million electric and gas customers (mainly in Connecticut, Massachussets and New Hampshire). Northeast Utilities will have nearly 4,500 miles of electric transmission lines, 72,000 miles of electric distribution lines and 6,000 miles of gas distribution lines. In addition, the companies recently jointly executed an agreement to invest $1.1 billion in new transmission lines to Québec, which will provide low-carbon hydro energy to power one million homes in New England beginning in 2015.