NextEra Hawaiian Electric Pursuit Dims as Oncor Back on Market
- Florida utility owner may exit to pursue Oncor, analysts say
- No regulatory decision scheduled with deal to expire June 3
NextEra Energy Inc.’s proposed $4.3 billion takeover of Hawaiian Electric Industries Inc. is looking increasingly less likely as the company gets a new chance to buy the largest power distributor in Texas, analysts said.
This month’s collapse of a deal for the Oncor Electric unit of Energy Future Holdings Corp. may prompt NextEra, North America’s largest generator of wind and solar power, to dump the Hawaii deal for a second pass at Oncor. NextEra can exit the 18-month-old deal after June 3 by paying the utility and bank owner about $95 million, Hawaiian Electric Chief Financial Officer James Ajello told investors May 4. Hawaiian utility regulators haven’t scheduled a vote on the 18-month-old offer, which has come under criticism in the state.