00:00Now to the blockbuster deal of the week. NextEra has agreed to pay about $67 billion in stock for
00:07Dominion, creating a utility giant that extends from Florida to Virginia. The NextEra CEO said
00:12on a conference call, this is a defining moment. The country needs more energy infrastructure built
00:17faster, more efficiently, and more affordably than ever before. Joining us now is Bloomberg's
00:22David Carnevale, who's been covering this. I mean, what is this, the second biggest power deal ever?
00:28I mean, is this just a play for AI is gobbling up all the power it can so the big
00:31need to get bigger?
00:32Yeah, NextEra is betting big that the AI revolution is here to stay. They're buying a utility company,
00:40Dominion Energy, which is front and center when it comes to having presence in an area of Virginia that
00:47has seen a lot of investments from hyperscalers like Google, Microsoft, Amazon. This is what people call
00:54the PGM interconnection is a big power grid that goes from Chicago to D.C. and runs through a lot
01:02of states
01:03that have seen a lot of investments. Now, the good news for NextEra and for its shareholders is that
01:10NextEra is not overpaying for the assets. We broke the price and the terms of the deal on Sunday, which
01:17were confirmed
01:18the Monday when the deal got announced. It's an all stock deal. There's a very small cash component. It's a
01:2420 percent
01:25premium and that's a good premium, but it's not the 30 percent premium that we typically see in takeover situations.
01:35So it
01:36seems like NextEra run the ruler. They are looking for an asset that is very attractive. So it seems like
01:42stars are aligning. The big question is whether
01:44The big question is whether or not the trust regulators will let it fly.
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