Bloomberg: NextEra Buying Oncor?
NextEra is also in the process of trying to acquire Hawaiian Electric Industries.
Florida-based NextEra Energy has put in a bid to buy Oncor Electric, a Texas company valued at up to $18 billion, according to a Bloomberg 听惭辞苍诲补测.
Meanwhile, a decision is expected any day on NextEra’s $4.3 billion deal to buy Hawaiian Electric Industries.
“They are one of the premier electric utilities out there, and they show a desire for growing through acquisition,” Paul Patterson, a New York-based analyst at Glenrock Associates LLC, said of NextEra in a telephone interview with Bloomberg. “The risk-adjusted rate of return is quite attractive compared with the cost of financing the transaction in many cases.”
Analysts suspect NextEra may be looking to forget the 鈥渦phill battle in Hawaii鈥 and instead buy聽, Bloomberg 聽in May.
Hawaii Gov. David Ige鈥檚 administration and two dozen intervening parties in the state Public Utilities Commission聽docket have opposed the merger,聽questioning its benefits to Hawaii and whether NextEra is committed to the state鈥檚 goal of 100 percent renewable energy.
Read the latest聽Bloomberg story , and past Civil Beat coverage of the NextEra deal with Hawaiian Electric here.
