Atco Ltd. made a takeover bid for Calgary Power Ltd., which sought an order from the Public Utilities Board of Alberta to restrain the takeover.
The Board found Atco to be an 'owner of a public utility' under the Public Utilities Board Act, giving it jurisdiction to intervene.
Atco appealed, arguing it was not an owner.
The Supreme Court of Canada dismissed the appeal, holding that the statutory definition of 'owner' includes a person with the power to control the utility, extending to the operational realities of control, and that the proposed share acquisition constituted a 'union' requiring Board consent.
