Warren

Buffett Might Find Competition for Constellation’s Hand

While things still appear aligned for Warren Buffett’s MidAmerican Energy Holdings to scoop up embattled Constellation Energy for $4.7 billion, or $26.50/share (see Daily GPI, Sept. 19), reports in a number of newspapers indicate that there could be a dark horse that might swoop in over the weekend with a competing offer, one that is rumored to be more than a billion dollars sweeter to Constellation.

September 22, 2008

Billionaire Buffett’s Energy Play Stays Utility-Focused, S&P Says

Billionaire Warren Buffett’s venture into the energy utility business continues its focus on the lower-risk, steadier rewards inherent in prudently operated public utilities while passing on his Midas touch to a growing stable of companies, including PacifiCorp, Northern Natural Gas Co. and MidAmerican Energy Co., according to Standard & Poor’s Ratings Services (S&P).

November 2, 2007

Buffett Says Berkshire Hathaway Has Tight Hold on Energy Play

Berkshire Hathaway’s charismatic CEO, Warren Buffett, assured state utility regulators last week that his multi-billion-dollar conglomerate is in the energy utility business for the long haul and views the sector as a steady source of income — not an extraordinary one.

November 20, 2006

Berkshire Hathaway Has Tight Hold on Energy Play, CEO, SEC Filing Say

Berkshire Hathaway’s charismatic CEO, Warren Buffett, assured state utility regulators this week that his multi-billion-dollar conglomerate is in the energy utility business for the long haul and views the sector as a steady source of income — not an extraordinary one.

November 16, 2006

MidAmerican Energy to Acquire PacifiCorp, Buffett’s 4th Energy Utility

Warren Buffett’s appetite for energy assets displayed itself again last week as his MidAmerican Energy Holdings Co. reached a definitive agreement with United Kingdom-based ScottishPower to buy electric affiliate PacifiCorp for $5.1 billion in cash, plus the assumption of $4.3 billion of debt. MidAmerican already has two major interstate natural gas pipelines in addition to its midwestern utility operations.

May 30, 2005

MidAmerican Energy to Acquire PacifiCorp, Buffett’s 4th Energy Utility

Warren Buffett’s MidAmerican Energy Holdings Co. on Tuesday said it reached a definitive agreement with United Kingdom-based ScottishPower to buy electric affiliate PacifiCorp for $5.1 billion in cash, plus the assumption of $4.3 billion of debt. MidAmerican already has two major interstate natural gas pipelines in addition to its midwestern utility operations.

May 25, 2005

Buffett Adds CenterPoint to Energy Portfolio with $1.31B Loan

Warren Buffett, the “Omaha Oracle” whose knack for investment risk has turned a mighty profit for believers, added another energy company to his hefty portfolio on Friday, as Buffett’s Berkshire Hathaway Inc. and Credit Suisse First Boston (CSFB) agreed to loan cash-poor CenterPoint Energy Inc. $1.31 billion. The three-year loan, which carries a 12.75% interest rate, ensures CenterPoint will make a Nov. 15 deadline to pay off a $400 million facility, and more important, allow it to maintain a $4.7 billion credit facility.

November 11, 2002

Buffett, CSFB Rescue CenterPoint with $1.31B Loan

Warren Buffett, the “Omaha Oracle” whose knack for investment risk has turned a mighty profit for believers, added another energy company to his hefty portfolio on Friday, as Buffett’s Berkshire Hathaway Inc. and Credit Suisse First Boston (CSFB) agreed to loan cash-poor CenterPoint Energy Inc. $1.31 billion. The three-year loan, which carries a 12.75% interest rate, ensures CenterPoint will make a Nov. 15 deadline to pay off a $400 million facility, and more important, allow it to maintain a $4.7 billion credit facility.

November 11, 2002
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