Dominion Shares Surge 12.5% Premarket on NextEra Acquisition Reports
D sits 29% above its 52-week low of $53.36.
Summary
Dominion Energy shares surged 12.5% in premarket trading following reports from Dow Jones Newswires that the company is nearing a sale to NextEra Energy. This news follows earlier reports from The Financial Times and Wiseek News yesterday regarding the potential acquisition talks. The Wall Street Journal now indicates a deal, expected to be mostly stock-based and potentially one of the year's largest, could be agreed upon as soon as Monday. For Dominion, this represents a highly material event, likely offering a significant premium to shareholders, while NextEra's stock saw a modest dip. Traders will closely monitor for an official announcement or further details on the terms and timing of this major utility sector consolidation.
At the time of this announcement, D was trading at $68.98 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $54.3B. The 52-week trading range was $53.36 to $67.57. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.