- Sempra Energy says a bankruptcy judge approved its merger agreement with Energy Future Holdings, an important step in SRE's proposal to acquire Energy Future's 80% ownership interest in Oncor;
- the deal still needs approval from the Public Utility Commission of Texas, which has scuttled two earlier attempted buyouts of Oncor;
- SRE is paying $9.45B for the Oncor stake, compared with the $9B Berkshire Hathaway had offered;
- SRE is in line for a $190M breakup fee if the deal collapses, compared with the $270M breakup fee BRK was asking and never received since it never got a chance to put its deal in front of the judge (if you snooze, you lose)
Wednesday, September 6, 2017
SRE-Oncor Moves Forward -- Bankruptcy Court Clears Deal -- September 6, 2017
Link here.
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