ScottishPower and PacifiCorp jointly announced that their Dec.7, 1998 merger plan gained a large boost Tuesday when the FederalTrade Commission (FTC) waived the 30-day waiting period under theHart-Scott-Rodino antitrust law.

“We are delighted to have received early clearance, which keepsus on schedule to meet our regulatory timetable,” said Ian Russell,a ScottishPower spokesman.

“This is just the initial step in the overall process,” saidDave Kvamme, a PacifiCorp spokesman. Both PacifiCorp andScottishPower have filed with Oregon, Washington, Idaho, Utah, andWyoming state regulatory commissions. More information will beprovided to state regulators next month. He added that the filingwith FERC will come “soon,” but couldn’t elaborate because the dealwas still under an SEC quiet period.

The proposed transaction’s value is estimated at $7.9 billion(See Daily GPI, Dec.8). ScottishPowerwill execute a friendly takeover of PacifiCorp, bringing 1.4 millionelectric customers in the western U.S. under its wing. The combinedcompany, known as ScottishPower, will have 7 million customers in theU.S., Great Britain, and Australia, and employ 23,500 peopleworldwide.

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