Berkshire Unit To Buy Utility NV Energy In $10B Deal

Law360, Los Angeles (May 29, 2013, 8:18 PM EDT) -- MidAmerican Energy Holdings Co., a subsidiary of Warren Buffet’s Berkshire Hathaway Inc., will acquire Las Vegas-based electric utility NV Energy Inc. in a deal valuing the utility at $5.6 billion, the companies announced Wednesday.

Iowa-based MidAmerican will purchase all outstanding shares of NV Energy’s common stock for $23.75 per share in cash. The transaction, which was unanimously approved by both companies’ boards of directors, has an enterprise value of approximately $10 billion, according to NV Energy, an energy holding company serving approximately 1.3 million electric and...
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