NextEra discussing $66B deal for Dominion Energy: report
NextEra Energy in Talks to Acquire Dominion Energy in $66 Billion Deal
NextEra Energy, a US power firm, is currently in discussions for a mostly stock deal to acquire Dominion Energy, a Virginia-based utility, at a valuation of approximately $76 per share, totaling around $66 billion, as reported by Bloomberg News.
The proposed offer represents a premium of approximately 21% to Dominion’s closing price on Friday, according to calculations by Reuters.
Under the terms of the deal, NextEra would offer about 0.8 shares of its stock for each outstanding share of Dominion. The deal is expected to be announced as soon as Monday, according to the Bloomberg report.
Although NextEra intends to primarily pay with stock, there will also be a small cash component included in the deal. Shareholders of NextEra would own approximately 75% of the combined company, as per the report.
Verification of the report by Reuters was not immediately available, and both companies have not responded to requests for comment outside regular business hours.
If the deal goes through, it would result in the creation of one of the largest power companies in the US in terms of market value.
NextEra, based in Florida and known as one of the world’s largest energy developers, currently has a market capitalization of $194.69 billion, while Dominion stands at about $54.29 billion, according to LSEG data.
The news of the potential merger was initially reported by the Financial Times, suggesting that the combined company could be valued at approximately $400 billion, including debt.
Anticipated record power consumption in the US for 2025 is expected to further increase over the next couple of years due to the AI boom driving data-center operators to secure utility supply deals, leading to higher sector profits amidst growing demand.
