M&A · Energy · Electric Services
NextEra Energy Inc to acquire Dominion Energy, Inc
Announced May 18, 2026 · Pending Jul 28, 2026
Deal value$67.17BEV $116.25B
Premium—To unaffected price
EV / Adj. EBITDA15.4x6.6x EV / Revenue
ConsiderationAll stock$76.38 per share
Transaction
- Acquirer
- NextEra Energy Inc (NEE)
- Target
- Dominion Energy, Inc (D)
- Buyer type
- Strategic
- Offer price per share
- $76.38
- Enterprise value
- $116.25B
- Status
- Pending Jul 28, 2026
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- $6.52B · 9.7%
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Lazard, BofA Securities, Wells Fargo
- To the target
- Goldman Sachs, JPMorgan
- Lazard fee
- $70.0M
- BofA Securities fee
- $30.0M
Sector context · Energy
- Comparable deals
- 30 in the prior 24 months
- Premium
- Sector median 32.3%
- EV / Adj. EBITDA
- 15.4x vs. 9.4x sector median
- Break fee
- Sector median 3.0%
Timeline
- AnnouncedMay 18, 2026
- Proxy filedJul 28, 2026
- Definitive proxyJul 28, 2026
- Shareholder votePending
- ClosedPending
Valuation · fairness opinions
Discounted cash flowLazard$91.25$139.50
Sum of the partsLazard$78.25$116.00
Discounted cash flowLazard$66.00$90.00
Sum of the partsLazard$56.50$74.00
Precedent transactionsLazard$63.25$85.00
Trading comparablesBofA Securities$65.25$88.25
Trading comparablesBofA Securities$64.25$81.25
Precedent transactionsBofA Securities$71.25$85.75
Discounted cash flowBofA Securities$66.25$85.50
Trading comparablesBofA Securities$67.50$108.00
Offer $76.38
Implied value per Dominion Energy, Inc share by analysis, from Lazard and BofA Securities.