NextEra Energy will combine with Dominion Energy, creating a $250 billion entity with $420 billion enterprise value.
NextEra Energy will merge with Dominion Energy in a deal valuing the combined company at approximately $250 billion in market capitalization. The transaction, structured as a stock swap, grants Dominion shareholders 0.8138 NextEra shares per Dominion share, plus a $360 million cash distribution across all outstanding shares.
NextEra, already the world’s largest utility with a $180 billion market cap, will own 75% of the new entity, while Dominion’s $60 billion valuation secures the remaining 25%. The combined enterprise value is projected at $420 billion. NextEra CEO John Ketchum will lead the merged company, with Dominion’s Robert Blue overseeing regulated operations.
The merger reflects expectations of sustained electricity demand growth over multiple decades. NextEra’s dividend policy will remain unchanged, addressing income investor concerns.