A PYMNTS Company

US: NextEra Energy and Hawaiian Electric propose merger

By  |  February 2, 2015

US power producer NextEra Energy and its takeover target Hawaiian Electric Industries (NYSE:HE) on Thursday filed applications with certain regulators, seeking their approval of the firms’ planned tie-up.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    As announced in early December 2014, NextEra Energy has struck a $4.3-billion deal to acquire Hawaiian Electric Industries.

    In its filing with the Hawaii PUC, NextEra commits to implement no involuntary job reductions for at least two years and to maintain existing union labor.

    The transaction needs to be greenlighted by HEI’s current stockholders and to receive clearance under the Hart-Scott-Rodino act and from certain other regulators. Its completion is scheduled for the final quarter of the year.

     

    Full Content: PR Newswire

     

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.