Warren Buffett outbid in race to buy big piece of Texas electric grid

The Texas Tribune

by Jim Malewitz
Billionaire Warren Buffett has been outbid in his effort to buy Texas’ largest transmission utility.
San Diego-based Sempra Energy announced early Monday that it had swooped in with a roughly $18.8 billion deal to purchase Oncor, whose roughly 120,000 miles of transmission and distribution lines deliver power to more than 3 million homes and businesses in North and West Texas.
The announcement signaled that Oncor’s parent company had abandoned the …

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