Dec. 3, 2014, 5:39 PM
Dec. 3, 2014, 5:13 PM
- NextEra Energy (NYSE:NEE) and Hawaiian Electric (NYSE:HE) agree to merge in a deal valued at $4.3B including the assumption of $1.7B in HE debt.
- HE also plans to spin off its ASB Hawaii banking subsidiary to HEI shareholders and establish it as an independent publicly traded company.
- NEE says the deal expands its regulated holdings and further balances its earnings mix, and is expected to be neutral to EPS for NEE shareholders in the first full year post-close and accretive thereafter.
- The total value to HEI shareholders is estimated at $3.5B, or ~$33.50/share.
- HE +11.4% AH.
Sep. 5, 2014, 12:49 PM| 5 Comments
Jun. 4, 2013, 10:52 AMHawaiian Electric (HE -2.5%) slips this morning after lowering its FY13 EPS guidance to $1.52 - $1.62, from its previous range of $1.58 - $1.68. Analysts were expecting an EPS of $1.64. The company cites the final rate case decision and order issued by the Hawaiian Public Utilities Commission in May as the reason for the cut, which translates into $7.8M lower MECO annual revenues. | 2 Comments
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