Rival Oncor Suitor Said To Purchase Debt Allowing It To Block Sale
August 17,2017
The Wall Street Journal first reported yesterday that Elliott Management Corp., which is attempting to put forth a competing bid for Oncor, has acquired a portion of Energy Future Holdings debt that the WSJ reports would allow Elliott Management Corp. to block the proposed sale of Oncor to Berkshire Hathaway Energy
Berkshire Hathaway Energy stated the company will "stand firm" on its $9 billion offer to acquire 80% of Oncor and will not be increasing its offer.
Berkshire Hathaway Energy pointed to the stakeholder support in Texas for the transaction
