Sempra Gets Court’s Greenlight For Oncor Acquisition

Sempra Energy can proceed with its US$9.45-billion acquisition
of Oncor Electric Delivery Co. after a bankruptcy judge ruled in
favor of the deal. The last hurdle that the suitor needs to clear
is the approval of the Texas Public Utility Commission, which
blocked two previous acquisition attempts on the grounds that they
were lacking in guarantees to preserve the financial integrity of
Texas’ largest regulated utility. Oncor has been operating under
bankruptcy protection for the last three years, with its parent,
Energy Future Holdings Corp.,…

Sempra Energy can proceed with its US$9.45-billion acquisition
of Oncor Electric Delivery Co. after a bankruptcy judge ruled in
favor of the deal. The last hurdle that the suitor needs to clear
is the approval of the Texas Public Utility Commission, which
blocked two previous acquisition attempts on the grounds that they
were lacking in guarantees to preserve the financial integrity of
Texas’ largest regulated utility. Oncor has been operating under
bankruptcy protection for the last three years, with its parent,
Energy Future Holdings Corp.,…