HALISTER: Berkshire Hathaway Energy Plans to Acquire Oncor

Berkshire Hathaway Energy Plans to Acquire Oncor

(Bloomberg) -- Co. executes definitive merger agreement with Energy Future Holdings Corp.
  • Berkshire Hathaway Energy will acquire reorganized EFH, which will ultimately result in the acquisition of Oncor, an energy delivery company serving ~10 million Texans
  • All-cash consideration for reorganized EFH is $9b implying an equity value of approx. $11.25b for Oncor and is subject to closing conditions
  • Transaction expected to be completed in 4Q of 2017
  • On closing of transaction, Bob Shapard will assume the role of executive chairman of Oncor, and Allen Nye will assume the role of Oncor CEO
  • NOTE: Berkshire Is Said to Near Oncor Deal After NextEra Failed
To contact the reporter on this story: Victoria Batchelor in Sydney at vbatchelor@bloomberg.net

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
BRK/A US (Berkshire Hathaway Inc)
TXU US (Energy Future Holdings Corp/Old)
0771742D US (Texas Energy Future Capital Holdings LLC)

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