U.S. power company NextEra Energy Inc said it would purchase Hawaiian Electric Industries Inc , Hawaii's largest power supplier, for about $2.63 billion in cash and stock to expand its regulated holdings.As part of the deal, Hawaiian Electric will spin off its subsidiary ASB Hawaii Inc, the parent company for American Savings Bank, into a publicly traded company.Hawaiian Electric shares were up 17.4 percent in extended trading at $33.10, slightly shy of the deal value of $33.50 per share, which includes the $8 per share estimated value of ASB Hawaii.NextEra, which owns Florida Power & Light Co, is one of the largest rate-regulated electric utilities in the United States.
Hawaiian Electric Industries, Inc. (HEI) is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. Shares of HE fell by 0.04% or $-0.01/share to $28.19. In the past year, the shares have traded as low as $22.71 and as high as $28.49. On average, 788580 shares of HE exchange hands on a given day and today's volume is recorded at 639109.
NextEra Energy, Inc. (NEE) is an electric power company. Shares of NEE fell by 0.68% or $-0.72/share to $104.39. In the past year, the shares have traded as low as $81.52 and as high as $105.94. On average, 1940670 shares of NEE exchange hands on a given day and today's volume is recorded at 1606472.
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