Berkshire Loses Bid to Buy Oncor After Sempra Energy Swoops In With $9.45 Billion Offer
As though wide-moat-rated Berkshire Hathaway's pursuit of Oncor Electric Delivery couldn't get any stranger, with Paul Singer's hedge fund firm, Elliott Management, doing everything in its power to block the deal as it looked to put together financing for its own bid, it was disclosed late on Aug. 18 that there was a third "mystery" bidder for Oncor.That bidder turned out to be Sempra Energy, which increased its original offer of $9.3 billion (the same bid Elliott Management was proposing) to $...
Berkshire Hathaway is a holding company. Co.'s subsidiaries are engaged in several business activities which include: underwriting private passenger automobile insurance; operation of a railroad system in North America; regulated electric and gas utility; manufacturing of products including industrial, consumer and building products; wholesale distribution of groceries and non-food items; provider of services including aviation pilot training, electronic components distribution and retailing businesses, including automotive dealerships; and manufactured housing and related consumer financing, transportation equipment, manufacturing and leasing, and furniture leasing.
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