A merger of two regulated electric utilities in the Southeast will create the world’s largest regulated electric utility business, by market capitalization. The transaction underscores the economic growth of the Sun Belt states.
NextEra Energy, which operates Florida Power & Light, the largest electric utility in the United States, providing power to 12 million people, will merge with Dominion Energy, which provides electricity to 3.6 million homes in North and South Carolina and Virginia. The all-stock transaction is expected to close within 12 to 18 months. Dominion Energy shareholders will receive 0.8138 shares of NextEra stock for each share of Dominion Energy — at current share prices, the deal is valued at $67 billion.
Following the merger, Dominion Energy shareholders will own 25.5 percent of the company, which will operate under the NextEra Energy name. The combined company will maintain dual headquarters in Juno Beach, Fla., and Richmond, Va., will pro
