Summary
Dominion Energy, Inc. (D) filed a Form 8-K on November 5, 2018, to provide crucial financial information related to its anticipated acquisition of SCANA Corporation. Although the merger has not yet been completed, Dominion Energy is proactively furnishing the unaudited financial statements of SCANA as of and for the nine months ended September 30, 2018, along with unaudited pro forma consolidated financial statements reflecting the combined entity. This filing is essential for investors to understand the potential financial impact and the target company's financial health prior to the closing of the transaction. The provided financial statements for SCANA are in accordance with Rule 3-05 of Regulation S-X, indicating their importance for assessing the probable business combination. The unaudited pro forma financials offer a glimpse into how Dominion Energy's financial position might look post-acquisition, allowing for a more informed evaluation of the deal's strategic and financial implications for Dominion Energy shareholders.
Key Highlights
- 1Dominion Energy (D) is providing financial statements for SCANA Corporation (SCANA) in anticipation of their merger.
- 2The filing includes unaudited condensed consolidated financial statements of SCANA as of September 30, 2018, and for the nine-month periods ended September 30, 2018, and 2017.
- 3Unaudited pro forma consolidated financial statements for Dominion Energy, reflecting the potential impact of the SCANA acquisition, are also included.
- 4This filing is made under Item 9.01 of Form 8-K, related to financial statements and exhibits.
- 5The merger, a stock-for-stock transaction, was previously announced on January 2, 2018, where SCANA shareholders would receive 0.6690 shares of Dominion Energy common stock per SCANA share.
- 6The financial statements for SCANA are provided under Rule 3-05 of Regulation S-X as the business has not yet been acquired.
- 7The report was filed on November 5, 2018, detailing events as of November 1, 2018.