WESTBOROUGH — Power company New England Electric System

WESTBOROUGH — Power company New England Electric System (NEES) said Monday it had agreed to buy Eastern Utilities Associates in deal worth about $634 million, in the latest consolidation spurred by deregulation in the electricity industry.

In December, NEES said it would merge with National Grid Group, a privately owned British transmission company. In its latest deal, NEES will acquire Boston-based Eastern Utilities for $31 cash per share. Continue reading WESTBOROUGH — Power company New England Electric System