Home
Sempra Energy to buy Oncor for $9.45 billion in cash
Sempra Energy to buy Oncor for $9.45 billion in cash
Sempra Energy to buy Oncor for $9.45 billion in cash
Sempra Energy said it will buy power transmission company Oncor, 80 percent owned by Energy Future Holdings Corp, for $9.45 billion in cash, resolving the Texas utility's long-standing bankruptcy case.
San Diego-based Sempra expects to own about 60 percent of the reorganized holding company after the transaction that is valued at $18.8 billion, including Oncor's debt, it said late on Sunday.
Energy Future's board on Sunday favored Sempra's offer over Berkshire Hathaway $9 billion deal to buy Oncor, sources told Reuters, after Sempra also offered assurances it could get its acquisition of Oncor approved by Public Utility Commission of Texas, as well as a U.S. bankruptcy judge.
The deal represents a rare blow for Buffett, who avoids bidding wars and had swooped in two months ago to buy Oncor after two previous attempts by Energy Future to sell it were blocked by Texas regulators.
Berkshire said last week it would not be raising its offer for Oncor.
Source:- https://www.reuters.com/article/us-oncor-m-a-sempra-ener-idUSKCN1B10J2
Share the joy
Recent News
Coronavirus: Interest-free Overdraft Plan For Struggling Borrow..
Bank Of America Sees Booming Rescue Loan Demand, With Applicati..
Investors warned not to rush into travel and leisure stocks
Coronavirus: WHO chief urges end to 'politicisation' of virus
Coronavirus: New York using mass graves amid outbreak
Recent Articles
Interesting Results From Online Dating Studies, Absolute Free Online Dating, Best Online Dating Si..
Absolute Free Online Dating, Best Online Dating Sites Free Registration, Free Online Dating Sites ..
Online Chatting Tips For Single Women, Online Dating Points To Remember, Online Dating Tips, Free ..
Ger More Information About Online Dating Sites, Free Chatting Sites, USA Dating Site List, Interna..