Citi Downgrades Dominion Resources, Inc. (D) to Neutral

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Go back to Citi Downgrades Dominion Resources, Inc. (D) to Neutral

Dominion Resources (D) to Acquire Questar (STR) in ~$4.4B Deal

February 1, 2016 7:01 AM EST

Dominion Resources, Inc. (NYSE: D) and Questar Corporation (NYSE: STR) today announced an agreement for the companies to combine, in an all-cash transaction in which Dominion has agreed to pay Questar shareholders $25 per share about $4.4 billion and assume Questar's outstanding debt.

The transaction would be accretive to Dominion upon closing expected by year-end 2016 with limited impact on the company's balance sheet. Dominion intends to finance the transaction in a manner that supports the company's existing credit ratings targets, using equity, mandatory convertibles and debt at Dominion, and equity at Dominion... More