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Meridian Holdings announced today that it will acquire NovaGrid Energy for $4.2 billion in a cash and stock transaction. The board of both companies approved the deal unanimously. NovaGrid's revenue grew 40% last year, driven by strong demand in the western grid. Meridian said the transaction is expected to close by the third quarter of 2026. Executives stated that Meridian has no material debt concerns related to the acquisition and that the combined company will be well capitalized. Meridian called the deal a natural step in building a more resilient regional grid.