Thursday, May 30, 2013

Buffett Hits Vegas!

The utilities sector has taken a beating in the stock market of late but that didn’t scare Warren Buffett.  MidAmerican Energy, a subsidiary of Buffett’s Berkshire Hathaway , announced after the closing bell that it will shell out $5.6 billion in cash to acquire NV Energy, a Nevada-based power provider at a price of $23.75 per share. Including debt the deal has an enterprise value of $10 billion and is expected to close in the first quarter of 2014…

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