Filing Flows › NextEra Energy (NEE) › Takeover & LBO
Is NextEra Energy (NEE) a takeover target?
A leveraged buyout at today's price plus 30% ($114.73 a share) would return about 6% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $53.68 a share (−39% against today's $88.25). At $356.1B it would be larger than any buyout on record (the model flags anything over $60 billion), so this is a thought experiment more than a prospect. It already carries 6.9× EBITDA in net debt (the model flags anything over 6×), so a buyer could add little debt of its own. Latest signal (2026-11-05): UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION The following unaudited pro forma condensed combined financial information is presented by NextEra Energy, Inc., a Florida corporation (NEE), to illustrate the estimated effects o.
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $114.73 | today's $88.25 plus 30% |
| × shares | 2,097.6 million | |
| = Equity value | $240.6B | |
| + Debt refinanced | $109.7B | |
| − Cash | $5.6B | |
| + Other claims | $11.4B | preferred stock, minority interests |
| = Enterprise value | $356.1B | 23.7× EBITDA of $15.1B |
| Fees | $7.1B | 2% of the price |
| New debt | $82.8B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $280.4B | 77% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $31.1B | $16.3B | $6.3B | $9.3B | $73.5B |
| Year 2 | $33.2B | $17.4B | $5.6B | $11.0B | $62.5B |
| Year 3 | $35.1B | $18.3B | $4.8B | $12.7B | $49.8B |
| Year 4 | $36.6B | $19.1B | $3.8B | $14.3B | $35.5B |
| Year 5 | $37.7B | $19.7B | $2.7B | $15.8B | $19.7B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 20.0× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $392.6B | |
| − Debt left | $19.7B | |
| = Buyer's equity | $372.8B | |
| Money multiple | 1.33× | on $280.4B put in |
| Buyer's yearly return (IRR) | 5.9% |
Price against return
What the buyer makes at other premiums over today's $88.25; the IRR reaches 20% at $53.68 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $97.08 | 9.0% |
| 20% | $105.90 | 7.3% |
| 30% | $114.73 | 5.9% |
| 40% | $123.55 | 4.5% |
| 50% | $132.38 | 3.2% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $28.8B | |
| EBITDA, last 12 months | $15.1B | 52.2% of revenue |
| Depreciation and amortization | $6.4B | |
| Debt | $109.7B | |
| Cash | $5.6B | |
| Share price | $88.25 | on Nov 6, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 12% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, NextEra Energy would cost about $116.93 a share, $245.3B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $105.90 | $222.1B |
| Median | 32.5% | $116.93 | $245.3B |
| High end (a quarter paid more) | 51.8% | $133.96 | $281.0B |
Rumors and deal signals
- 2026-11-05 · 8-K deal · UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION The following unaudited pro forma condensed combined financial information is presented by NextEra Energy, Inc., a Florida corporation (NEE), to illustrate the estimated effects o
NextEra Energy's latest quarter
NextEra Energy, Q3 2026: revenue $8.1B (+2% year over year), operating margin 32.4%, net earnings $4.8B, operating cash flow $5.0B. The chart follows the revenue to costs, profit and cash.
Questions
Is NextEra Energy being acquired?
The latest signal on file is from 2026-11-05: UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION The following unaudited pro forma condensed combined financial information is presented by NextEra Energy, Inc., a Florida corporation (NEE), to illustrate the estimated effects o. A headline is not a deal; Filing Flows lists the news, 8-K filings and 13D filings about a sale.
Could private equity buy NextEra Energy?
A leveraged buyout at today's price plus 30% ($114.73 a share) would return about 6% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $53.68 a share (−39% against today's $88.25). At $356.1B it would be larger than any buyout on record (the model flags anything over $60 billion), so this is a thought experiment more than a prospect. It already carries 6.9× EBITDA in net debt (the model flags anything over 6×), so a buyer could add little debt of its own.
What would a takeover of NextEra Energy cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, NextEra Energy would cost about $116.93 a share, $245.3B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.