NextEra buying Dallas-based Oncor

Houston Chronicle

By Jordan Blum  Published 9:16 am, Friday, July 29, 2016

Florida-based NextEra Energy said Friday it will buy Texas' largest utility, Oncor, in a cash-and-stock deal worth $18.4 billion.

NextEra said it will keep Oncor headquartered in Dallas to help Oncor's parent, Dallas-based Energy Future Holdings, emerge from bankruptcy. NextEra would acquire EFH's 80 percent interest in Oncor.

Oncor, the state's biggest power transmission company, returned to the auction block in May after an $18 billion deal fell through that would have sold the it to a consortium led by Dallas billionaire Ray Hunt. NextEra lost in the original bidding process to Hunt.

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