A New York judge will decide Monday or Tuesday on whether the regulatory review of the takeover of U.S. utility Energy East Corp. (EAS) by Spain's Iberdrola SA (IBE.MC) is temporarily halted, an Iberdrola source said Monday.
A New York judge will decide Monday or Tuesday on whether the regulatory review of the takeover of U.S. utility Energy East Corp. (EAS) by Spain's Iberdrola SA (IBE.MC) is temporarily halted, an Iberdrola source said Monday.

The judge is expected to rule on a motion from the New York Public Service Commission, which calls for a freeze of the review - the last one prior to completion of the deal - until state-controlled Electricite de France (1024251.FR) clarifies whether it plans to bid for Iberdrola itself, the person said.

The move comes after EdF said earlier this month that it's mulling a takeover bid for Iberdrola, but hasn't taken a final decision yet.

The source said Iberdrola considers the motion "highly irresponsible," since it's not certain that EdF will bid for Iberdrola.

Last year, Iberdrola said it had agreed to buy Maine-based Energy East in a friendly $4.5 billion (EUR3.4 billion) deal.

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