NextEra Energy Inc Chief Executive James Robo said on Wednesday that the largest U.S. power utility would not embark on a hostile takeover, a day after reports surfaced it had made an approach to Duke Energy Corp in what would be the sector's biggest-ever...
Duke Energy, which has a market capitalization of $65 billion, has rebuffed NextEra’s acquisition interest, according to a person familiar with the matter who confirmed a Wall Street Journal report about the approach that was published on Tuesday. Details of the bid could not be learned.
“State regulators are really important to getting approvals on getting things done, and you can’t do anything that isn’t mutual in this industry,” Robo said. NextEra owns two electric companies in Florida serving more than 5.5 million customers. It is also the world’s largest generator of renewable energy from wind and sun.
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