San Diego-based Sempra Energy has cleared the second to last hurdle in its $9.45 billion acquisition bid for Oncor Electric Delivery, the largest utility in Texas.
The U.S. Bankruptcy Court for the District of Delaware OK’d Sempra buying Energy Future Holdings, a bankrupt company that owns 80 percent of Oncor, it was announced Feb. 26.
Sempra must still obtain approval from the Public Utility Commission of Texas, which recently signaled that it would sign off. The commission is expected to consider an order approving the deal as early as March 8, according to Sempra.
Sempra, which reported 2016 revenues north of $10 billion, jolted the energy world in September when Oncor accepted its $9.45 billion bid, topping a $9 billion deal from Warren Buffett’s Berkshire Hathaway Energy.