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.
Featured CoursesRecent news
Nvidia Shares Slip 1.1%: Why a 3-Day Losing Streak Could Be Good News
Nvidia is heading into its most anticipated earnings report of the year on the back foot, and that may be exactly what the stock needs. Shares fell 1.1% in premarket trading Tuesday, extending a three-day pullback from last Thursday’s closing high of $235.74. For investors watching closely, a lower entry point ahead of Wednesday’s results […]
Alphabet and Blackstone Shares Rise on $5B AI Cloud Joint Venture
Google and Blackstone are joining forces to build a new AI cloud company, and investors in both firms are taking notice. Alphabet shares rose 0.5% and Blackstone gained approximately 1% in premarket trading after the companies announced plans to create a U.S.-based joint venture offering data center capacity and Google’s proprietary Tensor Processing Unit chips […]
Alphabet Shares Rise 1.4% as $5 Trillion Market Cap Comes into View
Alphabet is close to a rare milestone. On Monday, its shares rose 1.4%, bringing the Google parent company within about 2% of a $5 trillion market value. This comes just 87 trading days after it first closed above $4 trillion in January. Let’s look at what’s fueling this growth and whether its big AI investments […]
Trade with fewer limits
Day trade with fewer limits at fast speed. Buy stocks and ETFs at low fees.