NextEra Buys Dominion in Deal Creating World’s Largest Regulated Utility
Mondeum Capital (UK) Limited
NextEra Energy has agreed to acquire Dominion Energy in an all-stock deal, creating the world’s largest regulated electric utility. Together, they will serve 10 million customers across Florida, Virginia, North Carolina, and South Carolina. After the news, Dominion’s shares rose 15%, while NextEra’s fell 1.6% in premarket trading on Monday.
As part of the deal, Dominion shareholders will get 0.8138 NextEra shares for each Dominion share they own, along with a one-time cash payment of $360 million. They will keep receiving their current quarterly dividend until the deal closes. After the merger, NextEra shareholders will own about 74.5% of the new company, and Dominion shareholders will own 25.5%.
The combined company will keep the NextEra name and have 110 gigawatts of power generation from different energy sources. NextEra is valued at about $195 billion, and Dominion was worth around $54 billion before the deal.
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