M&A
confidence high
sentiment neutral
materiality 0.60
Black Hills issues pro forma Merger financials: rev $3.9B, EPS $3.22
BLACK HILLS CORP /SD/
- Pro forma combined revenue $3,921M, net income $429M, basic EPS $3.22 for year ended Dec 31, 2025.
- Estimated merger consideration ~$4.4B; exchange ratio 0.98 shares of BKH per NWE share.
- Pro forma goodwill $3.1B; total assets $20.7B; combined company to be named Bright Horizon Energy Corp.
- Pro forma based on Black Hills as acquirer; reflects preliminary purchase price allocation and does not include cost synergies.