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“After careful consideration and analysis of the likelihood of achieving a timely reversal of those orders, the Boards of Directors of Hydro One and Avista each individually determined that termination of the merger agreement is the best course of action for the companies and their respective shareholders,” a press release said.

Hydro One said that, under the terms of the merger agreement, it would pay Avista a US$103-million termination fee.

That, however, comes on top of numerous costs Hydro One has already reported in connection to the Avista transaction, as well as concerns as to what it will mean for its future capacity to make deals.

In its year-end financial filings for 2017, Hydro One reported $36 million in costs related to the proposed acquisition, such as consulting fees or other expenses.

Last year, the numbers bounced around because of fluctuations in the value of a foreign-exchange contract tied to the deal. For the three quarters Hydro One has reported so far for 2018, the net cost is approximately $15 million.

There were deferred financing costs associated with the deal as well, as Hydro One conducted a sale of convertible debentures that was to help fund part of the acquisition.

The debentures (which were represented by instalment receipts that traded on the Toronto Stock Exchange) were priced at $1,000 apiece, with $333 to be paid up front and the remaining $667 to be paid by investors after all conditions to the closing of the Avista deal were met. The total principal amount was $1.54 billion and the debentures carried a coupon rate of four per cent. Hydro One says it will redeem those debentures on Feb. 8.