Warren Buffett refuses to raise billion-dollar bid on utility
Berkshire Hathaway has declared that the company will stick to its bid for a US utility despite credit maneuvers which could impact the deal.
Executives at Berkshire Hathaway have refused to increase the bid on Texan utility Oncor. The company's CEO Warren Buffett and president of the energy division, Greg Abel, have declared that the company "will stand firm on its USD 9 billion offer" to take over 80 percent of the debt-plagued company, reveals a press release from Berkshire Hathaway. The offer was made in July and factoring in debt, values Oncor at USD 18.1 billion.
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