Deals
Berkshire Wastes No Time Wooing Texas to Close Oncor Deal
- Berkshire promises independent board, ring-fencing measures
- Texas last week rejected NextEra’s $18.4 billion bid for Oncor
Berkshire After Buffett
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Warren Buffett’s Berkshire Hathaway Inc. is wasting no time trying to win over Texas regulators in its bid for Oncor Electric Delivery Co., the state’s largest electric-transmission operator.
Berkshire announced Friday that it’ll buy Oncor in a deal said to be valued at about $17.5 billion. And the company is already promising measures that’ll shield Oncor from potential bankruptcy at other units and an independent board with sole authority over dividends, an emailed document from Oncor shows.