---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-354167"
form_type: "8-K"
ticker: "BKH"
cik: "0001130464"
company_name: "BLACK HILLS CORP /SD/"
filed_at: "2026-08-17T20:34:22+00:00"
generated_at: "2026-08-17T20:35:18.502157+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Black Hills-NorthWestern merger advances; NWE Q2 EPS $0.40, closing expected by year-end 2026

## Summary
- NWE Q2 2026 revenue $392.6M, net income $25.0M, diluted EPS $0.40; H1 revenue $890.2M, EPS $1.43.
- Merger terms: each NWE share converts to 0.98 BKH share; all-stock merger of equals.
- FERC, Nebraska PSC, and South Dakota PUC approved merger; Montana PSC order pending, closing targeted by year-end 2026.
- Shareholders approved merger in April 2026; HSR waiting period expired; NWE incurred $6.7M merger costs in H1 2026.
- NWE completed Colstrip Unit 3/4 acquisitions from Avista and Puget on Jan 1, 2026 for $0.

## SEC filing metadata
- accession: 0001193125-26-354167
- form_type: 8-K
- ticker: BKH
- cik: 0001130464
- company_name: BLACK HILLS CORP /SD/
- filed_at: 2026-08-17T20:34:22+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1130464/000119312526354167/0001193125-26-354167-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1130464/000119312526354167/bkh-20260817.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-354167
- JSON: https://secwatch.observer/filing/0001193125-26-354167.json
- Plain text: https://secwatch.observer/filing/0001193125-26-354167.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.