Sempra bests Berkshire with $9.45-bn offer for Oncor

Sempra's deal for Energy Future Holdings, which owns 80% of Oncor, is valued at $18.8 bn with debt

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“But when, over dessert, Warren Buffet (pictured) whispers the secret to Berkshire Hathaway’s 19 per cent annualised return since inception, the expected pot becomes $3.8 million,” a rather creative Deutsche Bank report argues

Ryan Collins, Scott Deveau & Matthew Monks | Bloomberg

Last Updated : Aug 22 2017 | 2:56 AM IST

US utility owner Sempra Energy agreed to buy control of Texas power distributor Oncor Electric Delivery for $9.45-billion, topping a bid by Warren Buffett's Berkshire Hathaway just last month.

Sempra's deal for Energy Future Holdings, which owns 80 per cent of Oncor, is valued at about $18.8 billion including debt, the San Diego-based company said in a statement Sunday. Sempra plans to fund the purchase through a combination of its own debt and equity, as well as third-party equity and $3 billion of borrowings by the reorganised company, it said.

Sempra is the latest suitor seeking to take over Oncor since its