MidAmerican Energy Holdings Company, a subsidiary of Berkshire Hathaway Inc. (BRK-B, BRK-A, BRKa), Wednesday said it has agreed to acquire NV Energy Inc. (NVE). The transaction has an enterprise value of about $10 billion.
MidAmerican will buy NV Energy's common stock for $23.75 a share in cash. The transaction has been unanimously approved by both companies' boards of directors.
The acquisition is subject to customary closing conditions, including the approval of the transaction by NV Energy's shareholders and the receipt of required state and federal approvals. The transaction is currently expected to be completed in the first quarter of 2014.
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