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Market Reaction
Sempra Energy NYSE: SRE
Aug 21, 12:56 PM EDT
117.77 +1.22 (+1.05%)Berkshire Hathaway Inc. Class A NYSE: BRK.A
Aug 21, 12:34 PM EDT
268,065.16 +688.16 (+0.26%)Eclipsing Buffett great headline and good to see the money making assets shared around. He has managed to get too many of these assets on the cheap before without recourse.
On a positive note for Buffett and Berkshire their credit rating went up today now that they have pulled out and aren’t borrowing $9 billion.
Oncor and Sempra Energy Secure FERC Approval
Sempra Energy’s acquisition of Energy Future Holdings Corp. (EFH), the indirect owner of approximately 80 percent of Oncor.
On Aug. 21, Sempra Energy entered into an agreement to acquire EFH. In September, the U.S. Bankruptcy Court for the District of Delaware approved EFH’s entry into the merger agreement with Sempra Energy and, on Oct. 5, Sempra Energy and Oncor filed a joint Change-in-Control application with the Public Utility Commission of Texas (PUCT). On Oct. 16, the PUCT set a procedural schedule to complete a review of Sempra Energy’s and Oncor’s case within 180 days, by early April 2018.
The EFH transaction closing remains subject to further approvals by the U.S. Bankruptcy Court and the PUCT, among other approvals and closing conditions. For more information about the transaction, visit oncor-sempra.com.Sempra Energy $SRE downgraded to Neutral from Buy with a $112 price objective at Merrill Lynch.
After being down 4.5% premarket Sempra Energy $SRE closed on the NYSE: SRE · December 22 108.31 ▲ 1.40 (1.31%)
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