Ademi LLP is investigating Dominion Energy (NYSE: D) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with NextEra Energy.
Dominion Energy stockholders will receive 0.8138 shares of NextEra Energy for each share of Dominion Energy they own at closing. NextEra Energy and Dominion Energy shareholders will own approximately 74.5% and 25.5% of the combined company, respectively.
Dominion Energy insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Dominion Energy by imposing a significant penalty if Dominion Energy accepts a competing bid. We are investigating the conduct of the Dominion Energy board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
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