Deals
Two Gas Utilities Seen Joining Questar as Takeover Targets
- Exelon, NextEra may join Dominion in buying gas companies
- U.S. climate rules seen driving demand for natural gas
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The scramble among power companies to snap up natural-gas businesses for their stable returns is far from over, with Dominion Resources Inc. saying Monday that it’ll buy Questar Corp. for $4.4 billion. The only question now: Who’s next?
Atmos Energy Corp. and NiSource Inc. may be next to sell, BMO Capital Markets analyst Michael Worms said by phone Monday. Exelon Corp., the biggest U.S. nuclear generator, or NextEra Energy Inc., the biggest U.S. wind-power developer, may be next to announce a takeover, said Worms, who correctly forecast in September that Dominion and Duke Energy Corp. would buy gas utilities and that Questar would be sold.