NV Energy to be acquired by MidAmerican for $23.75 per share

MidAmerican Energy Holdings Company, a subsidiary of Berkshire Hathaway (BRK.A), and NV Energy (NVE) announced that they have reached a definitive acquisition agreement whereby MidAmerican will acquire NV Energy, an energy holding company serving approximately 1.3M electric and natural gas customers in Nevada. Under the terms of the agreement, MidAmerican will purchase all outstanding shares of NV Energy's common stock for $23.75 per share in cash. The transaction, which has been unanimously approved by both companies' boards, has an enterprise value of approximately $10B. The transaction is currently expected to be completed in 1Q14.