Duke Energy rebuffed NextEra takeover approach - WSJ

Sep. 29, 2020 10:25 PM ETNextEra Energy, Inc. (NEE), DUKNEE, DUKBy: Carl Surran, SA News Editor58 Comments
  • NextEra Energy (NYSE:NEE) recently made a takeover approach to Duke Energy (NYSE:DUK), which ultimately rejected the bid, WSJ reports, adding that NextEra may still have interest in pursuing a deal.
  • Duke has a $61B market cap following a 14% YTD decline in its share price, and an acquisition of the company could be the largest utility deal ever and the biggest merger so far this year.
  • NextEra is the largest public utility in the U.S. based on market value of $139B after its stock rose 22% YTD.
  • Any deal would need to pass muster with several government officials in a highly regulated industry.
  • NextEra has been an active acquirer of smaller assets in recent years and has considered larger deals; it announced a deal today to buy independent transmission company GridLiance for $660M including debt.

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