Dominion Energy Inc. and SCANA Corp. have agreed to combine in a stock-for-stock merger in which SCANA shareholders would receive 0.6690 shares of Dominion Energy common stock for each share of SCANA common stock, the equivalent of $55.35 per share, or about $7.9 billion based on Dominion Energy’s volume-weighted average stock price. Including assumption of debt, the value of the transaction is approximately $14.6 billion.

SCANA would operate as a wholly owned subsidiary of Dominion Energy. It would maintain its significant community presence, local management structure and the headquarters of its South Carolina Electric & Gas Co. subsidiary utility in South Carolina.

The transaction would be accretive to Dominion Energy’s earnings upon closing, which is expected in 2018 upon receipt of regulatory and shareholder approvals.

For more information, visit www.dominionenergy.com or www.scana.com.