December 3, 2014 / 10:31 PM / 4 years ago

NextEra Energy to buy Hawaiian Electric for $3.5 bln

Dec 3 (Reuters) - U.S. power company NextEra Energy Inc said it would buy Hawaii’s largest power supplier, Hawaiian Electric Industries Inc, for about $3.5 billion in cash and stock.

The offer of about $33.50 per share represents a premium of nearly 19 percent to Hawaiian Electric’s Wednesday close of $28.19.

NextEra will also take on $1.7 billion in debt as part of the deal, the company said. (Reporting By Shubhankar Chakravorty in Bengaluru; Editing by Simon Jennings)

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