Scana-Dominion Deal Offers Triple Play: Buy the Stocks or Buy the Deal Spread
We are reaffirming our $60 fair value estimate for Scana on a stand-alone basis and adjusted for Dominion Energy's $14.6 billion all-stock acquisition offer, announced Jan. 3. After more regulatory and political posturing this week, Scana's stock now trades at a 22% discount to Dominion's deal-implied offer, up from an 8% discount the day of the deal announcement.We think Morningstar's methodology offers a unique way for investors to assess three investment possibilities: Buy either company's s...
SCANA is a holding company. Through its regulated subsidiaries, the company is engaged in the generation, transmission, distribution and sale of electricity in South Carolina and in the purchase, transmission and sale of natural gas in North Carolina and South Carolina. Through its non-regulated subsidiary, the company markets natural gas to retail customers in Georgia and to wholesale customers in the southeast. In addition, the company's subsidiary, SCANA Services, Inc. provides primarily administrative and management services to the company's other subsidiaries.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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