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Bankruptcy fight over Oncor to test Warren Buffett’s discipline

Bankruptcy fight over Oncor to test Warren Buffett's discipline

The board of bankrupt Texas utility Energy Future Holdings will meet later on Sunday to decide whether to sell its crown jewel, power transmission company Oncor, to Buffett's Berkshire Hathaway Inc or accept an opposing bid from Sempra Energy, a person familiar with the confidential deliberations said on condition of anonymity. The rival bid for Oncor was disclosed on Friday by Energy Future's biggest creditor, billionaire Paul Singer's hedge fund Elliott Management Corp. The identity of the bidder was not publicly announced, but Bloomberg News first reported on Saturday that Sempra was the mystery bidder, citing anonymous sources.


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