Berkshire scoops Nevada’s biggest electric company

MidAmerican Energy Holdings, a division of Berkshire Hathaway, will buy NV Energy for $5.6 billion, reports New York Times’s DealBook.

“The purchase of NV Energy, a utility with about 1.3 million electric and natural gas customers in Nevada, is the largest-ever acquisition made by MidAmerican, which Warren Buffett bought in 2000. Based in Des Moines, Iowa, MidAmerican serves 7.1 million customers in the U.S. and U.K.,” says the report.

Read more here.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.