NextEra Energy $18.4 billion acquisition of Energy Future Holdings

Overview:

• NextEra Energy's $18.4 billion acquisition of Energy Future Holdings has been cancelled by Texas regulators.
• Regulators justified their decision with the claim that the completed deal would not be in the public's interest.
• The purchase would have included Energy Future's stake in Oncor Electric Delivery.
• The transactions was announced in July 2016.
• Energy Future filed for Chapter 11 bankruptcy back in April 2014 and its sale was part of its reorganisation plan.
• Credit Suisse Securities and Bank of America Merrill Lynch had acted as lead financial advisers for NextEra.
• NextEra were advised by legacy firm Chadbourne & Parke.

Kurt Stumpo - Journalist