NextEra Energy to acquire Dominion in $66.8 billion deal

NextEra Energy (NEE) volition get Dominion Energy (D) successful a $66.8 cardinal all-stock transaction, marking the largest power-sector tie-up connected grounds and creating the largest electrical inferior successful the country.

Dominion banal jumped astir 15% successful premarket trading, portion NextEra banal fell astir 1.5% earlier the doorbell arsenic investors digested the quality of a woody the companies said volition make the “world’s largest regulated electrical inferior business.”

The woody volition spot NextEra speech astir eight-tenths of a stock of its banal for each outstanding Dominion share, according to a property merchandise from NextEra, with NextEra shareholders acceptable to ain astir 75% of the combined entity and person an further $360 cardinal successful cash.

A tie-up betwixt NextEra, which operates the country’s largest inferior work by marketplace worth and a important powerfulness procreation business, and mid-Atlantic inferior work Dominion would make a sprawling powerfulness institution with some monolithic inferior zones and important procreation exertion to substance them.

While NextEra’s inferior business, Florida Power & Light, covers customers passim astir fractional of Florida, Dominion’s mid-Atlantic and southeast footprint includes bluish Virginia’s Loudon County, location to the largest attraction of information centers successful the world.

The combined entity would service astir 10 cardinal inferior customers crossed Florida, Virginia, North Carolina, and South Carolina, and ain 110 gigawatts of powerfulness procreation crossed a dispersed of vigor sources, NextEra said.

The determination by NextEra would astir surely people the largest M&A woody connected grounds successful the powerfulness assemblage — and it would beryllium the second-largest transaction successful 2026, pursuing SpaceX’s (SPAX.PVT) $250 cardinal tie-up with xAI successful what is acceptable to beryllium a banner twelvemonth for dealmaking.

The woody would apt dwarf Constellation Energy’s (CEG) $26.6 cardinal acquisition of Calpine successful 2025 and Duke Energy’s (DUK) 2012 acquisition of Progress Energy for $32 billion, which astatine the clip created the largest electrical inferior successful the country.

The announcement comes arsenic request for energy crossed the US has surged amid the detonation of the information halfway industry, which is underpinning the wide build-out of artificial quality technology. The request has sent companies scrambling to circular up further procreation capableness and grow their reach, including done an expanding fig of M&A transactions.

Jake Conley is simply a breaking quality newsman covering US equities for Yahoo Finance. Follow him connected X astatine @byjakeconley oregon email him astatine [email protected].