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Next Era Energy is in talks to acquire Dominion energy in a mostly stock transaction that could

value Dominion at roughly $66 billion.

Bloomberg News reported on Sunday, citing people familiar with the matter, if completed,

the merger would become the largest utility acquisition on record in one of the biggest

M&A deals of this year. The proposed agreement could be announced as early as today.

Under the terms being discussed, Next Era would offer about 0.8 of its own shares for each

Dominion share, along with a modest cash component. Existing Next Era investors would own roughly

three quarters of the combined company.

The Financial Times first reported on the prospective deal on Saturday.

Including debt, the transaction would carry an enterprise value of about $116 billion,

highlighting the growing scale of consolidation in the U.S. power industry.

A combination with Dominion would significantly

expand Nextera's footprint in the PJM interconnection grid, the nation's largest wholesale

electricity market. The region includes northern Virginia home to the world's largest

concentration of data centers, where electricity demand has accelerated sharply.

Bloomberg News reported that no final agreement has been reached and negotiations could still collapse or change.

Dominion shares closed Friday at $61 and 73 cents with a market value of about $54 billion.

Next era ended the session at 9336, valuing the Florida-based company at roughly $195 billion.

Dominion is up 12% in pre-market action while Next Era is down 2.6%.

Bitcoin Depot has filed for voluntary Chapter 11 bankruptcy protection.

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