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Texas Rejects NextEra's Second Attempt at Oncor Takeover

  • Regulators adopt order that blocked takeover bid for Oncor
  • Deal was valued at more than $18 billion, including debt
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Texas regulators rejected NextEra Energy Inc.’s $18 billion bid to buy the state’s largest transmission operator, Oncor Electric Delivery Co., for a second time.

The Public Utility Commission of Texas first blocked the deal in April. On Wednesday, commissioners adopted an order that denied NextEra’s request for a rehearing on the merger.