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Elliott lawyer says third bidder may top Buffett’s Oncor bid

An unidentified utility could pay $9.3 billion to buy Texas power transmission company Oncor Electric Delivery Co, topping Berkshire Hathaway Inc's $9 billion bid, a lawyer for the largest creditor of Oncor's parent told a U.S. bankruptcy judge on Friday. Such a bid would add to the competition that Warren Buffett, Berkshire's chief executive, faces for Oncor and could cause the Texas company to slip from his grasp.


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Elliott lawyer says third bidder may top Buffett's Oncor bid

Elliott lawyer says third bidder may top Buffett's Oncor bid

Such a bid would add to the competition that Warren Buffett, Berkshire's chief executive, faces for Oncor and could cause the Texas company to slip from his grasp. It could also scuttle plans of billionaire Paul Singer's hedge fund Elliott Management Corp, the largest creditor of Oncor's bankrupt parent, Energy Future Holdings Corp. Elliott has been trying to block Oncor's sale to Berkshire and put together its own consortium to buy the company.


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