secwatch.observer — SEC 8-K summary
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Issuer:     BLACK HILLS CORP /SD/ (BKH)
CIK:        0001130464
Form:       8-K
Filed at:   2025-08-19T23:59:59+00:00
Accession:  0001104659-25-080276
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud

Black Hills Corporation (BKH) enters into all-stock merger agreement with NorthWestern Energy Group
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- Brian B. Bird, formerly NorthWestern's CEO, will become CEO of combined company; Linden R. Evans will retire.
- NorthWestern shareholders will receive 0.98 shares of BKH common stock per share in the merger.
- NewCo will be headquartered in Rapid City, SD, with an 11-member board (6 from BKH, 5 from NorthWestern).
- Merger requires approvals from FERC and state commissions in MT, NE, SD, and possibly AR, with a $100M termination fee.
- Closing expected by August 18, 2026, with possible extensions to February 18, 2027 for regulatory approvals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1130464/000110465925080276/0001104659-25-080276-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1130464/000110465925080276/tm2523729d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-080276

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer