Elliott Management's Bid for Oncor Electric Delivery Aimed at Getting Berkshire to Pay More
When wide-moat-rated Berkshire Hathaway announced on July 7 that it had bid for the bankrupt Energy Future Holdings' 80% equity stake in Oncor Electric Delivery, we noted that the insurer's utilities and energy division would likely face less regulatory issues than past bidders but that the process would still be challenging, as the bid needs approval from both Texas regulators and a bankruptcy court judge. We also noted the possibility of another bid cropping up to challenge Berkshire's offer....
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