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Buffett encounters rare miss as Sempra Energy strikes deal to buy Oncor

It is rare that Warren Buffett, the Sage of Omaha, fails to get what he wants in the world of business. But that may be the case on Monday as Sempra Energy strikes an 11th-hour deal with the Texas-based, power-transmission arm of the former TXU.

Sempra Energy SRE, +1.59% plans on buying Oncor for $9.45 billion, virtually snatching the company out of the clutches of one of the world’s most respected investors. Buffett had forged a tentative agreement to purchase the power-transmission company out of bankruptcy court from Energy Future Holdings Corp., the erstwhile TXU Corp., for $9 billion.

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