NextEra Energy in Talks to Acquire Dominion Energy for $66 Billion, Announcement Expected May 18

According to Bloomberg, NextEra Energy is in talks to acquire Virginia-based utility Dominion Energy, with an announcement potentially coming as soon as May 18. The mostly stock transaction would value Dominion at approximately $76 per share, or roughly $66 billion in equity value.

Under the proposed terms, Dominion shareholders would receive about 0.8 NextEra shares plus a small cash component per Dominion share, leaving NextEra investors with approximately 75% of the combined company. Including debt, the deal would value Dominion at about $116 billion, ranking as the largest power industry transaction on record, though negotiations could still change or fall apart.