Sempra Energy shares tumbled after saying it would issue more equity instead of bringing in outside investors to help fund its $9.45 billion takeover of Oncor Electric Delivery Co., in an attempt to appease Texas regulators, Bloomberg News reported yesterday. Shares fell as much as 2.9 percent, the most since December 2016, after Sempra said on Wednesday that it would buy all of Energy Future Holdings Corp., the parent of Texas power-line utility Oncor. The revised terms will eliminate $3 billion of debt at Energy Future. Sempra yesterday was in the process of filing for approval from the Public Utility Commission of Texas, a key step in getting the deal cleared. Texas regulators have quashed earlier takeover bids from NextEra Energy Inc. and a group led by Hunt Consolidated Inc. The sale is key to ending the bankruptcy of Energy Future, which has been restructuring nearly $50 billion of debt for more than three years.
