Boston, MA 05/31/2013 (wallstreetpr) – The share prices of NV Energy Inc. (NYSE:NVE) had surged by 22.51 percent to close at $23.62 per share for the end of last trading session. The shares of the company had been trading in the range of $23.57 to $23.68 per share during the day before registering an increase of $4.34 per share over the previous closing price. The shares of NV Energy Inc. (NYSE:NVE) had thereby hit new levels of 52 week high price at $23.68 per share, while the 52 week low price of the company remains at $16.90 per share.
Acquisition by Berkshire Hathaway
The subsidiary of Berkshire Hathaway, Mid American Energy Holdings Company had recently agreed to acquire NV Energy Inc. (NYSE:NVE) in a deal with an enterprise value of $10 billion. The shareholders of the Nevada based utilities company would thereby get $23.75 per share from the acquisition deal, which was observed to be 23 percent premium over the closing price of NV Energy Inc. (NYSE:NVE) on Wednesday.
The acquisition deal which would require state and federal approval to be completed is expected to close in the first quarter of 2014. The Nevada based energy company, NV Energy Inc. (NYSE:NVE) presently operates through primary, wholly owned subsidiaries named Nevada Power Company, Sierra Pacific Power Company, NVE Insurance Company Inc. and Lands of Sierra.
NV Energy Inc. (NYSE:NVE) presently holds 235.45 million shares outstanding with institutional ownership of 86 percent of holdings. The company had recently been the volume gainer with nearly 92.04 million shares being exchanged in the last trading session, while the average trading volume of NV Energy Inc. (NYSE:NVE) is at 2.18 million shares per day.
