NextEra Energy Made Takeover Approach to Duke Energy
September 29 2020 - 7:56PM
Dow Jones News
By Cara Lombardo, Maureen Farrell and Dana Cimilluca
NextEra Energy Inc. recently made a takeover approach to Duke
Energy Corp., according to people familiar with the matter, testing
the waters for what would be a $60 billion-plus combination of two
southern utilities.
Duke rebuffed the approach but NextEra is still interested in
pursuing a deal, some of the people said. There is no guarantee
NextEra will do so and if it does, that a deal would result.
Should there be one, it would be big. Duke, based in Charlotte,
N.C., has a market value of roughly $61 billion following a 14%
decline in its share price this year, and an acquisition of the
company could be the largest utility deal ever and the biggest
merger so far this year.
Write to Cara Lombardo at cara.lombardo@wsj.com, Maureen Farrell
at maureen.farrell@wsj.com and Dana Cimilluca at
dana.cimilluca@wsj.com
(END) Dow Jones Newswires
September 29, 2020 19:41 ET (23:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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