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Finance: Warren Buffett's Berkshire Hathaway is reportedly close to buying an electric-utility giant

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Berkshire Hathaway's energy business is close to a deal to acquire Oncor, The Wall Street Journal reported.

Berkshire Hathaway's energy business is close to a deal to acquire Oncor, the electric-utility giant based in Texas, according to The Wall Street Journal's Dana Mattioli and Nicole Friedman.

The deal could be announced as soon as Thursday, The Journal reported, citing people familiar with the matter.

Oncor, one of the largest utility companies in the US, says it serves 10 million customers across Texas. It earned $935 million in operating revenues and $73 million in net income in the quarter ended March 31.

Berkshire Hathaway Energy owns electricity and natural-gas utilities across the US. Berkshire's acquisition would be worth $17.5 billion, below the $18.4 billion that NextEra had agreed to pay before that deal was halted by regulators, The Journal said.

In late June, Berkshire invested $377 million in Store Capital, a real-estate investment trust.

Source: Pulse Nig

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