Dominion Energy, Scana to Combine in Stock-for-Stock Merger
By Imani Moise
Dominion Energy Inc. said Wednesday that it struck a deal to combine with Scana Corp. in an all-stock transaction valued at about $7.66 billion.
Under the terms of the agreement each Scana shareholder will receive roughly two-thirds of a Dominion share, or about $53.71 per share based on Dominion's Tuesday closing price. The companies said including debt the deal is worth about $14.6 billion.
The deal is expected to close this year.
Scana shares jumped 27% to $49.50 during premarket trading while Dominion shares were inactive.
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(END) Dow Jones Newswires
January 03, 2018 07:38 ET (12:38 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.