Warren Buffett’s Berkshire Hathaway Inc. struck a deal to buy one of the country’s biggest power-transmission companies, cementing electricity as one of the conglomerate’s largest businesses, the Wall Street Journal reported today. Berkshire said that it will buy bankrupt Energy Future Holdings Corp. for $9 billion in cash, giving Buffett its Texas-based Oncor. Including debt, the deal has an enterprise value of about $18 billion. Oncor is owned by Energy Future, formerly TXU, which was the subject of the biggest leveraged buyout on record in 2007. Laden with debt, Energy Future filed for bankruptcy protection in 2014.
