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Buffett bets on energy with bid for Texas utility

Hedge fund Elliott Management is also exploring its own takeover bid for Energy Future

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Mr Buffett has agreed to pay US$9 billion in cash for utility operator Energy Future Holdings.

New York

THE fate of a giant Texas power company that has spent nearly a decade in financial distress lies in a potential battle between two billionaires.

On one side is Warren Buffett, who has agreed to pay US$9 billion in cash for the utility operator, Energy Future Holdings. On

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