Berkshire Hathaway Inc.’s BRK.B division Berkshire Hathaway Energy will buy Oncor Electric Delivery Company LLC, per media reports. The transaction values Oncor Electric’s equity at $11.25 billion. The acquirer also intends to acquire Energy Future Holdings Corp, the parent of Oncor Electric for $9 billion in cash. Awaiting approvals, the transactions are expected to culminate in the fourth quarter of this year.Texas-based Oncor Electric is an electric utility giant, having generated $935 million in operating revenues and $73 million in net income in the quarter ended Mar 31, 2017. Per Bob Shapard, CEO, Oncor Electric, “We will gain access to additional operational and financial resources as we continue to position Oncor to support the evolving energy needs of our state.”Interestingly, Berkshire Hathaway had invested in Energy Future Holdings in 2007 through corporate bonds worth $2 billion. However, it shrugged off the same in 2017 after incurring a massive $873 million loss. Energy Future Holdings boasts Texas’s largest electricity-transmission operator.Notably, NextEra Energy Inc. NEE and Hunt Consolidated Inc. also desired to take over Oncor Electric but Texas regulators rejected their pleas, citing that the deal will not be in favor of public interest. It is now Berkshire Hathaway Energy that seeks an approval for the acquisition.Berkshire Hathaway’s economically sensitive non-insurance businesses – utilities and energy plus manufacturing, service and retail – are performing favorably after suffering a substantial earnings decline in recent past due to economic weakness. However, there has been a turnaround of late.Warren Buffett, who spearheads Berkshire Hathaway, has been eyeing strategic investments in utility sector and owns utilities across the nation. In 2013, the company had acquired electricity provider NV Energy Inc.Demand for utilities is expected to be high as economic recovery gains pace and drives the earnings growth. This acquisition thus will be a perfect fit and help the company capitalize on the emerging opportunities.Shares of Berkshire Hathaway have gained 4.43% quarter to date, underperforming the Zacks categorized Property and Casualty Insurance industry’s 4.77% increase. The company has also not witnessed any earnings momentum over the last 30 days. Nonetheless, with strong fundamentals and a continued focus to create a tremendous value for the shareholders should drive the shares higher.Berkshire Hathaway presently caries a Zacks Rank #3 (Hold).Acquisitions Ramping Up Growth ProfileAcquisitions are a well-accepted growth strategy among insurers. AXIS Capital Holdings Limited AXS will buy Novae Group plc for $605 million in cash to ramp up its Lloyd presence, while The Hanover Insurance Group, Inc. THG has announced that its international specialty insurance group Chaucer has bought SLE Holdings to enhance its specialty capabilities.Will You Make a Fortune on the Shift to Electric Cars?Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research. It's not the one you think. See This Ticker Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NextEra Energy, Inc. (NEE): Free Stock Analysis Report Berkshire Hathaway Inc. (BRK.B): Free Stock Analysis Report Axis Capital Holdings Limited (AXS): Free Stock Analysis Report The Hanover Insurance Group, Inc. (THG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research