Texas rejects NextEra's $18B Oncor takeover

NextEra Energy Inc.’s proposed $18.4 billion acquisition of Oncor Electric Delivery Co., a sale that was key to ending the bankruptcy of Oncor parent Energy Future Holdings Corp., was rejected by utility regulators in Texas. The Public Utility Commission of Texas voted against the deal at a meeting on Thursday. That followed a draft order on Wednesday showing the merger wouldn’t be in the public interest. Commissioners expressed concern last month about the loss of ring-fencing measures designed...

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