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Dominion-Scana merger approved by Georgia regulator

Published 03/21/2018, 12:31 PM
Updated 03/21/2018, 12:31 PM
© Reuters.  Dominion-Scana merger approved by Georgia regulator
  • Dominion Energy (D -0.1%) moves a step closer to its planned $8B acquisition of Scana (SCG -0.3%) after the Georgia Public Service Commission approves the merger.
  • The Federal Trade Commission approved the deal in February, and regulatory approval still is needed from North Carolina and South Carolina, as well as the Nuclear Regulatory Commission and Federal Energy Regulatory Commission; Dominion expects the deal to close this year.
  • The companies have offered incentives aimed at winning approval, including a $1.3B cash payment to South Carolina Electric & Gas customers, and a 5% rate reduction for SCE&G residential customers.
  • Now read: It's The Best Time In Nearly A Decade To Buy These 2 High-Yield Dividend Blue Chips


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