- The U.K.'s Competition and Markets Authority serves an initial enforcement order on National Grid's (NYSE:NGG) proposed $11B acquisition of the U.K.'s largest electricity distribution business from U.S.-based PPL Corp. (NYSE:PPL)
- The U.K. markets regulator says it served the order on June 9, which prevents the full integration of National Grid and Western Power Distribution while the deal is under review.
- The acquisition was expected to complete sometime in July.
- National Grid announced in March its purchase of PPL's WPD utility business while separately selling its Rhode Island utility business to PPL.