January 3, 2018 / 12:16 PM / 9 months ago

Dominion Energy to buy Scana Corp in $7.9 bln deal

Jan 3 (Reuters) - Dominion Energy Inc said on Wednesday it would buy Scana Corp in an all-stock deal that values the electric utility company at about $7.9 billion.

Scana shareholders will receive 0.6690 shares of Dominion Energy for each share held, or the equivalent of about $55.35, the companies said.

The offer represents a premium of 42.4 percent to Scana’s Tuesday closing price of $38.87. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sriraj Kalluvila)

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