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Scana rises on takeover rumors, with NextEra a potential suitor

Published 12/08/2017, 11:33 AM
© Reuters.  Scana rises on takeover rumors, with NextEra a potential suitor
  • Scana (SCG +2.2%) is moving higher on rumors that the company is about to be sold, possibly to NextEra Energy (NEE -0.1%), the Florida-based company that is said to be submitting a serious offer to buy South Carolina's state-run energy utility Santee Cooper; meanwhile, SCG’s natural gas assets reportedly would be sold to Dominion Energy (D -0.3%).
  • The moves could make sense: Dominion is "expanding its gas footprint,” NEE has “a voracious appetite for electric utility acquisition,” and SCG is seeking survival after its failed nuclear project in the state, an unnamed analyst tells Fitsnews.com.
  • Reports last week said South Carolina's governor was seeking to sell Santee Cooper to potentially interested buyers including NEE, D, Duke Energy (NYSE:DUK) or Southern Co.
  • Now read: Dominion Hits Its Mark Again


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