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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
Add BT as a preferred sourcePublished Sun, Jul 9, 2017 · 09:50 PM
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 the other is Paul Singer, the hedge fund mogul whose firm is the biggest creditor of Energy Future - and is exploring making its own takeover bid for the company, which has spent more than three years in bankruptcy proceedings.
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