Federal Trade Commission grants early termination of antitrust waiting period for proposed Dominion Energy-SCANA combination
February 2, 2018
Dominion Energy, Inc. (NYSE: D), and SCANA Corporation (NYSE: SCG) announced that their proposed combination has cleared a key condition needed for completion.
The Federal Trade Commission has granted early termination of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act with regard to the combination.
Expiration or termination of the waiting period is one of the conditions required for completion of the transaction.
The merger is also contingent upon approval of SCANA’s shareholders; review and approval from the public service commissions of South Carolina, North Carolina, and Georgia; and authorization of the Nuclear Regulatory Commission and Federal Energy Regulatory Commission.
The companies expect the transaction to close in 2018.
About Dominion Energy
Dominion Energy is one of the nation’s largest producers and transporters of energy, with a portfolio of approximately 25,900 megawatts of electric generation, 14,800 miles of natural gas transmission, gathering and storage pipeline, and 6,600 miles of electric transmission lines. Dominion Energy operates one of the nation’s largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves nearly 6 million utility and retail energy customers. For more information about Dominion Energy, visit the company’s website at www.dominionenergy.com.
About SCANA
SCANA Corporation, headquartered in Cayce, S.C., is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses. Information about SCANA and its businesses is available on the company’s website at www.scana.com.
