NextEra Energy (US utility company)

NextEra

NextEra

to announce

xuānbù

宣布

using / for

yǐ

以

$67 billion

670 yì měiyuán

670亿美元

to acquire

shōugòu

收购

Dominion Energy (US utility company)

Dominion

Dominion

，

to create / to set

chuàng

创

the United States

Měiguó

美国

in history / historically

shǐshàng

史上

the largest

zuìdà

最大

public utility

gōngyòng shìyè

公用事业

merger and acquisition

bìnggòu

并购

case / deal

àn

案

。

New Words

News in English

NextEra Acquires Dominion Energy for $67 Billion in Largest US Utility Deal in History

NextEra Energy and Dominion Energy announced a $67 billion merger, creating the largest electricity producer in the United States. The deal is the biggest utility acquisition in American history.

Two major United States electricity companies, NextEra Energy and Dominion Energy, have announced a merger with a transaction value reaching 67 billion dollars. This is the largest public utility merger and acquisition deal in United States history. Following the merger, the new company will become the largest electricity producer across the United States. According to the agreement, NextEra will hold 74.5 percent of the merged company shares. Dominion shareholders will receive the remaining 25.5 percent shares and cash compensation. Both parties stated that following the merger, they will retain the Dominion brand in Virginia. NextEra commits to retaining all Dominion employees within 18 months after the merger is completed. Furthermore, Virginia consumers will receive bill reduction credit of 1.778 billion dollars within two years following the merger. The transaction is expected to be completed in 2027, still requiring shareholder and regulatory authority approvals.

More in Business