Deals
Buffett’s MidAmerican Expands West With $5.6 Billion Deal
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Warren Buffett’s energy unit will consolidate a western expansion begun in 2005 with its planned $5.6 billion acquisition of Nevada’s largest utility, potentially reigniting takeovers in the sector.
MidAmerican Energy Holdings Co.’s purchase of Las Vegas-based NV Energy Inc., announced yesterday, would make it the largest U.S. utility owner with 8.4 million customers, according to data compiled by Bloomberg. The Berkshire Hathaway Inc. unit agreed to pay $23.75 a share, 23 percent more than NV Energy’s $19.28 closing price yesterday, the companies said in a statement.