Warren Buffett's Berkshire Hathaway is reportedly close to buying an electric-utility giant

Berkshire Hathaway’s energy business is close to a deal to acquire Oncor, the electric-utility giant based in Texas, according to The Wall Street Journal.

The deal could be announced as soon as Thursday, reported Dana Mattioli and Nicole Friedman, citing people familiar with the matter.

Oncor earned $US935 million in operating revenues in the quarter ended March 31, and $US73 million in net income.

In late June, Berkshire invested $US377 million in Store Capital, a real estate investment trust.

More to come …

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