Unitil Corporation (UTL) announced that it has agreed to purchase Bangor Natural Gas Company (Bangor) from PHC Utilities, Inc., a subsidiary of Hope Utilities, Inc., for $70.9 million on a debt-free basis. This transaction is subject to customary adjustments for closing working capital and transaction expenses.Details of the AgreementBangor owns and operates nearly 351 miles of distribution pipelines and nine miles of transmission pipelines. It is an excellent addition to UTL's existing natural gas distribu ...