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Mergers & AcquisitionsMedium•27 June 2026•

1 min read

PUCO approves NFG's $2.62B acquisition of Vectren Energy Delivery of Ohio

Key Facts

1The Public Utilities Commission of Ohio (PUCO) approved National Fuel Gas (NFG)'s acquisition of the natural gas distribution business of Vectren Energy Delivery of Ohio for $2.62 billion.

2The transaction is expected to close in the fourth quarter of calendar 2026, subject to customary closing conditions.

In a sign of continued consolidation in the U.S. utility sector, the Public Utilities Commission of Ohio (PUCO) has approved National Fuel Gas (NFG)'s acquisition of the natural gas distribution business of Vectren Energy Delivery of Ohio for $2.62 billion. According to reports, the transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

The regulatory clearance comes amid a wave of M&A activity in regulated utilities, as companies seek geographical expansion and scale efficiencies. Per market data, NFG shares closed at $78.45 on June 26, 2026, slightly above the session low of $76.91.

Investors now focus on the deal's completion timeline and its impact on NFG's future earnings. While no major near-term economic events directly affect the stock, the Ohio expansion provides a new regulated base for growth. NFG remains at $78.45, with attention likely to shift to any operational or financial updates regarding the acquisition.