Dominion Energy, Inc. (NYSE:D) shares are rocketing on Monday's premarket session as traders react to an all-stock transaction that would combine Dominion with NextEra Energy, Inc. (NYSE:NEE)

Merger Details

As per the terms, Dominion shareholders will receive 0.8138 NextEra shares per Dominion share. This implies an ownership split of approximately 74.5% for NextEra and 25.5% for Dominion shareholders in the combined entity.

The deal has been unanimously approved by both boards and is expected to close in 12–18 months, subject to regulatory approvals.

Leadership will include John Ketchum as Chairman and CEO and Robert Blue as President and CEO of regulated utilities, also joining the board.

The structure is a tax-free stock-for-stock transaction. The merged company will operate under the NextEra Energy name and continue to trade on the NYSE under NEE.

As per the Financial Times, the blockbuster deal will create a roughly $400 billion utility powerhouse.

As of March 31, NEE cash and cash equivalents stood at around $2.47 billion.

Synergies & Benefits

The deal positions the merged company as the world's largest regulated electric utility business and a major North American energy infrastructure platform.

The combined portfolio will include roughly 110 GW of generation capacity across multiple energy sources.

As part of the deal, the combined company plans to provide $2.25 billion in customer bill credits across Virginia, North Carolina, and South Carolina over two years after closing.

With a mix of regulated and contracted growth assets and a pipeline of more than 130 GW of large-load opportunities, the combined platform is positioned to benefit from growing electricity demand while maintaining affordability through infrastructure investment and operational efficiency.

Post-merger, over 80% of earnings will come from regulated operations, concentrated in high-growth U.S. states, supporting ~11% annual growth in regulated capital employed and 9%+ EPS growth through 2032.

The transaction is expected to be immediately accretive to adjusted EPS, with long-term growth of 9%+ through 2032 and ~9%+ through 2035 versus NextEra's 2025 base.

The company targets 6% annual dividend growth through 2028, with payout ratios expected below 55% by 2030.

Dominion shareholders will also receive a $360 million one-time cash payment at closing, in addition to ongoing dividends until deal completion.

D Price Action: Dominion Energy shares were up 14.81% at $70.87 during premarket trading on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

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