Sempra Bests Berkshire With $9.45 Billion Offer for Oncor
- Buffett’s Berkshire had struck a $9 billion deal to buy Oncor
- Elliott has criticized Berkshire’s offer for the Texas utility
Bloomberg’s Scott Deveau discusses a deal between Sempra and Oncor, and what it means for Berkshire Hathaway. He speaks with David Westin and Alix Steel on 'Bloomberg Daybreak: Americas.' (Source: Bloomberg)
U.S. utility owner Sempra Energy agreed to buy control of Texas power distributor Oncor Electric Delivery Co. for $9.45 billion, topping a bid by Warren Buffett’s Berkshire Hathaway Inc. just last month.
Sempra’s deal for Energy Future Holdings Corp., which owns 80 percent of Oncor, is valued at about $18.8 billion including debt, the San Diego-based company said in a statement Sunday. Sempra plans to fund the purchase through a combination of its own debt and equity, as well as third-party equity and $3 billion of borrowings by the reorganized company, it said.