Deals
NextEra Loses One Outsider Fight, Picks an $18 Billion One
- Florida company will need Texas approval of Oncor purchase
- NextEra bid for Hawaii utility rejected this month by state
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Just two weeks ago, Florida-based NextEra Energy Inc. lost its fight to buy Hawaii’s biggest power supplier for $2.6 billion. The state rejected the deal over fears that an outsider wouldn’t have its best interests in mind.
It didn’t keep NextEra down for long. On Friday, the utility owner proposed an even larger, $18 billion takeover of Energy Future Holdings Corp.’s Oncor Electric Delivery Co. LLC utility. This time, it’ll have to deal with Texas.