NextEra Energy (NEE) announced it has entered into a definitive Agreement and Plan of Merger on May 15, 2026, to acquire Dominion Energy, Inc. The transaction involves a two-step merger process that will result in Dominion Energy becoming a wholly-owned subsidiary of NextEra Energy. Dominion shareholders will receive a combination of cash and NextEra Energy common stock as consideration.
Key Details
- Merger Consideration: Each share of Dominion Energy common stock will be converted into the right to receive 0.8138 shares of NextEra Energy common stock and a pro rata share of an aggregate $360 million in cash.
- Governance & Operations: Post-merger, NextEra's board will expand to 14 members, appointing four individuals from Dominion's current board or management. NextEra has committed to maintaining Dominion’s current headquarters in Richmond, Virginia.
- Approvals & Timeline: The transaction is subject to shareholder approvals from both companies and various regulatory clearances, including from the HSR Act, FERC, and several state utility commissions. The agreement includes a termination date of November 15, 2027, which can be extended to August 15, 2028, for regulatory matters.
- Termination Fees: The agreement stipulates a termination fee of $2.24 billion payable by Dominion to NextEra, and a reciprocal fee of $6.52 billion payable by NextEra to Dominion under certain conditions. A separate fee of $4.83 billion is payable by NextEra for failure to obtain specified regulatory approvals.