Buffett pays US$5.6b for Vegas utility

A Berkshire Hathaway unit will pay US$5.6 billion (HK$43.5 billion) for NV Energy, the electric utility serving Las Vegas and its power-hungry casinos, in yet another large energy deal for Warren Buffett in the western United States.

Berkshire’s MidAmerican Energy Holdings Co said it will buy NV Energy for US$23.75 per share, a 23 per cent premium to NV’s Wednesday closing price. NV Energy shares rose to US$23.90 in after-hours trading on Wednesday.

via Business feed http://www.scmp.com/business/companies/article/1249610/buffett-pays-us56b-vegas-utility