US EditionSouth Dakota energy company plans to merge with MT monopoly utility NorthWestern Energy
The merger will form a utility serving 2.1 million customers across eight states, aiming to invest over $7 billion in grid infrastructure to meet growing electricity demand.
- On Tuesday, the boards of two regional utility companies unanimously approved a merger deal structured as an all-stock, tax-free transaction.
- The merger responds to booming U.S. power sector consolidation driven by rising electricity demand and expanding data center consumption.
- The merged entity will have a customer base of about 2.1 million spread throughout eight states, with its headquarters located in Rapid City, South Dakota, and Brian Bird appointed as the CEO.
- For each NorthWestern share owned, shareholders will be given 0.98 shares of Black Hills, reflecting an approximate 4% premium and valuing each NorthWestern share close to $59.
- The merger is expected to close in 12 to 15 months after regulatory and shareholder approvals and aims to increase scale, financial strength, and infrastructure investment.
25 Articles
25 Articles
In Blockbuster $15.4 Billion Deal, Black Hills Energy To Merge With NorthWestern
Black Hills Energy announced a blockbuster $15.4 billion merger Tuesday with NorthWestern Energy in a deal the companies say will help them compete with larger utilities. Rates won’t go down, they say, but they won’t go up as much or as fast.
Helena Independent Record
MissoulianSouth Dakota energy company plans to merge with MT monopoly utility NorthWestern Energy
The deal is set to be completed in 12-15 months, but the Montana Public Service Commission as well as the utility regulators in Nebraska and South Dakota still need to sign off on the merger.
Arkansas Natural Gas Provider Black Hills Merging With NorthWestern Energy to Form $15.4B Company
Black Hills Corp. of Rapid City, South Dakota (NYSE: BKH), which delivers natural gas to about 180,000 customers in west, northwest and northeast Arkansas, is merging with NorthWestern Energy Group Inc. of Sioux Falls (Nasdaq: NWE). The result of the all-stock, tax-free transaction will be an electric and natural gas utility with market capitalization of nearly $8 billion and an enterprise value of $15.4 billion. The companies announced the merg…
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