NextEra Energy is reportedly engaged in discussions to buy Dominion Energy in a transaction that would be primarily paid in stock and carry an implied per-share value for Dominion near $76, or about $66 billion in aggregate value, according to people familiar with the matter.
Under the terms being discussed, NextEra would tender roughly 0.8 of its shares for each share of Dominion, supplemented by a modest cash element. If the contemplated exchange holds, holders of NextEra stock would own approximately 75% of the combined company after the transaction closes, the sources said.
The proposed price represents an approximate 21% premium to Dominion’s closing price on Friday. The conversations follow initial reports late last week that drew market attention, and market participants were told to expect a formal offer possibly as soon as Monday.
Market moves have already reflected the news: both companies’ shares showed declines in response to the reporting, underscoring investor sensitivity while the proposal remains unformalized.
Should the transaction proceed as discussed, it would rank among the largest U.S. utility takeovers and would combine extensive operations across multiple states into a single, significantly larger power company. Observers cited in reports frame NextEra’s approach as a route to expand its role in power delivery while increasing exposure to nascent demand sources—specifically, the need to support artificial intelligence data centers.
Details reported
- Offer price: about $76 per Dominion share, implying an overall valuation near $66 billion.
- Consideration: roughly 0.8 NextEra shares for each Dominion share, plus a small cash portion.
- Ownership split post-deal: NextEra shareholders would control about 75% of the combined company.
- Premium: approximately 21% above Dominion’s most recent closing price cited in the report.
The discussions, as described, remain at a stage where terms could change or a formal proposal might not be filed. The timing and final structure are subject to confirmation if and when NextEra makes a formal offer public.