Warren Buffett's Berkshire Hathaway is buying the Texas power transmitter Oncor for $9 billion, one of his biggest acquisitions. Last year, Berkshire completed its biggest acquisition in its history, a $32.36 billion deal for aviation parts maker Precision Castparts. Oncor serves about 10 million people and is the biggest regulated utility in Texas. Berkshire Hathaway will acquire a reorganized Energy Future, ultimately leading to the buyout of Oncor, based in Dallas. Berkshire Hathaway already has a significant presence in Texas, which includes headquarters for BNSF Railway Co., Acme Brick Co., Justin Brands Inc., McLane Co., Berkshire Hathaway Automotive, Star Furniture Co., TTI Inc., Charter Brokerage, LiquidPower Specialty Products Inc. and Allie Beth Allman & Associates.

Source: ABC News July 07, 2017 12:46 UTC