Deals
Prospects of a Public Oncor Raised by $18 Billion NextEra Rebuff
- Texas has blocked NextEra’s, Hunt group’s bids to buy Oncor
- Absent a viable merger, Oncor may go public, analysts say
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Twice, companies have sought to buy Texas’s biggest electric transmission owner. And twice now, Texas has rebuffed them.
The latest rejection came Thursday when the state Public Utility Commission killed NextEra Energy Inc.’s $18 billion plan to buy Oncor Electric Delivery Co. A group led by Hunt Consolidated Inc. withdrew its own bid last year. Without a viable merger in sight, the future of Oncor -- and the long-awaited end to the bankruptcy of its parent Energy Future Holdings Corp. -- may depend on the utility going public.