Billionaire versus billionaire: Buffett's bid challenged

Warren Buffett's USD 18 billion bid for Oncor is not high enough, says the utility' largest creditor, who is raising the bar with a counter-bid.

Photo: /ritzau/AP/John Minchillo

Last week it emerged that US billionaire Warren Buffett's company, Berkshire Hathaway, had placed a bid of USD 18 billion for Texan energy company Oncor. However, this bid is not high enough, says the largest creditor in Oncur's crisis-struck parent company Energy Future Holdings, billionaire Paul Singer, who will place a USD 18.5 billion counter bid.

This is according to an open letter from Singer's hedge fund Elliot Management to the board in Energy Future.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted forced to delay coal phase out

The Danish authorities have ordered Ørsted to continue operations of one coal fired power plant and resume operations on two others until 2024. The utilty maintains aim of CO2-neutrality in 2025.

Further reading

Related articles

Latest News

See all jobs