Elliott Management Considering $18.5 Billion Deal With Oncor

Published on: 10 Jul, 2017

The largest creditor of the bankrupt parent of Oncor Electric Delivery Co, Elliott Management, said it was putting together an offer that values the utility at about $18.5 billion, including debt.

On Friday, Warren Buffet’s Berkshire Hathaway (NYSE: BRK.B) made a $9 billion offer for Oncor’s parent, Energy Future Holdings Corp, valuing the utility at $18.1 billion.

On Monday, Elliot said it was working on a $9.3 billion offer for Energy Future.

Elliot also said that it would support a deal with Berkshire or a third party if those bids exceeded the value proposed by the hedge fund in a letter to the board of Energy Future. They also said that any transaction for Oncor other than one led by creditors would increase regulatory risks.

“We fear that the Berkshire transaction does not provide such value,” the hedge fund said.

According to an article from Reuters, Elliott’s bid would be a rare challenge to Buffett, who avoids auctions or companies and has told he does not like to participate in bidding wars.

Oncor delivers power to more than 3.4 million homes and businesses through roughly 122,000 miles (196,000 km) of transmission and distribution lines in Dallas.

While Berkshire was not immediately available, Oncor did not immediately comment on Elliott’s letter.

Ratings

Ratings
  • 3206Views
  • 10Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin

@Newsletter

Sign Up for Weekly Updates

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

Related Posts

12 Jul, 2017 2915
20 Jul, 2017 3117
09 Aug, 2017 3266
08 Sep, 2017 2248

10 Comments

off white hoodie

Jul 01, 2023 at 05 54 pm

You made some first rate points there. I appeared on the internet for the difficulty and found most individuals will go together with with your website.
off white hoodie http://www.off--white.us.com

REPLY (0)

supreme hoodie

Jul 02, 2023 at 09 37 am

I used to be very pleased to find this web-site.I wished to thanks for your time for this wonderful learn!! I positively enjoying every little little bit of it and I have you bookmarked to check out new stuff you blog post.
supreme hoodie http://www.supreme-clothings.us.com

REPLY (0)

kd shoes

Jul 03, 2023 at 12 00 am

An interesting dialogue is value comment. I believe that it is best to write extra on this topic, it may not be a taboo topic but generally individuals are not enough to speak on such topics. To the next. Cheers
kd shoes http://www.kd-shoes.us

REPLY (0)

kobe shoes

Jul 09, 2023 at 12 18 am

You made some decent factors there. I appeared on the internet for the difficulty and found most individuals will go together with together with your website.
kobe shoes http://www.kobe-shoes.us.com

REPLY (0)

golden goose sale

Jul 11, 2023 at 12 29 pm

I used to be more than happy to search out this net-site.I wanted to thanks for your time for this wonderful learn!! I undoubtedly having fun with each little bit of it and I've you bookmarked to check out new stuff you blog post.
golden goose sale http://www.goldengoosesale.us.org

REPLY (0)

yeezy 700

Jul 12, 2023 at 09 02 am

I am usually to running a blog and i really appreciate your content. The article has actually peaks my interest. I'm going to bookmark your web site and keep checking for brand spanking new information.
yeezy 700 http://www.yeezy700.us.com

REPLY (0)

kobe shoes

Jul 15, 2023 at 11 34 am

There may be noticeably a bundle to know about this. I assume you made sure nice points in options also.
kobe shoes http://www.kobe-shoes.us.com

REPLY (0)

birkin bag

Jul 17, 2023 at 01 27 pm

Oh my goodness! an incredible article dude. Thanks Nonetheless I'm experiencing concern with ur rss . Don抰 know why Unable to subscribe to it. Is there anyone getting identical rss drawback? Anybody who is aware of kindly respond. Thnkx
birkin bag http://www.birkinbag.us.com

REPLY (0)

fear of god essentials

Jul 18, 2023 at 03 44 am

Can I just say what a relief to find somebody who truly knows what theyre talking about on the internet. You definitely know the right way to carry an issue to mild and make it important. More individuals have to learn this and perceive this aspect of the story. I cant believe youre not more common since you definitely have the gift.
fear of god essentials http://www.fearofgodessential.com

REPLY (0)

bape sta

Jul 19, 2023 at 08 47 am

Once I originally commented I clicked the -Notify me when new feedback are added- checkbox and now each time a comment is added I get four emails with the identical comment. Is there any means you may take away me from that service? Thanks!
bape sta http://www.bapesonline.com

REPLY (0)