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Oncor Stakeholder Goes After NextEra For $72M Breakup Fee

Law360, Wilmington (November 21, 2017, 6:17 PM EST) -- A minority shareholder in Texas utility Oncor Electric Delivery Co. LLC told the Delaware Chancery Court on Monday that NextEra Energy owes it $72 million as a breakup fee for a merger shot down by state regulators.

Texas Transmission Holdings Corp. claims NextEra agreed to pay the breakup fee in the event of a failure to close the sale of TTHC’s 20 percent share of Oncor to NextEra, and that thanks to Texas regulators, the sale never closed.

“NextEra failed to close the contemplated merger between...
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