Sempra Energy said it will buy Oncor for $9.45 billion in cash after Energy Future Holdings Corp, which indirectly owns Oncor, abandoned a deal to sell the power transmission company to Warren Buffett’s Berkshire Hathaway Inc.

San Diego-based Sempra expects to own about 60 percent of a reorganized Energy Future after the transaction that is valued at $18.8 billion, including Dallas-based Oncor’s debt, it said, according to Reuters. The development represents a rare blow for Buffett, who avoids bidding wars for companies and had swooped in two months ago to buy Oncor after two previous attempts by Energy Future to sell it were blocked by Texas regulators.

In July, the energy unit of Berkshire Hathaway agreed to buy Oncor for $9 billion, but the deal ran into trouble after Energy Future’s biggest creditor Elliott Management Corp opposed the sale arguing it undervalued Oncor. Elliott also tried to put together its own bid for $9.3 billion to buy Oncor.