NextEra to buy Dominion Energy in $66.8B deal

 NextEra Energy, Inc. announced in a statement on Monday that it will acquire Dominion Energy, Inc., with the 100% stock-for-stock deal valued at approximately $66.8 billion.

"Dominion Energy shareholders will receive a fixed exchange ratio of 0.8138 shares of NextEra Energy for each share of Dominion Energy they own at the close of the transaction, resulting in NextEra Energy and Dominion Energy shareholders owning approximately 74.5% and 25.5% of the combined company, respectively," it was detailed in the statement. With this agreement, the largest regulated electric utility business by market capitalization in the world will be created.

The new entity will trade on the New York Stock Exchange (NYSE) under NextEra's existing ticker symbol "NEE." The combined Board of Directors will comprise 10 NextEra and four Dominion directors. The transaction is expected to close in 12 to 18 months.

https://breakingthenews.net/Article/NextEra-to-buy-Dominion-Energy-in-dollar66.8B-deal/66311931