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Elliott says considering $18.5 billion offer for Oncor

ELLIOTT

11/07/2017

Bloomberg

Elliott Management Corp, the largest creditor of the bankrupt parent of Oncor Electric Delivery Co, said it was in the process of making an offer that values the utility at about $18.5 billion, including debt. Warren Buffet’s Berkshire Hathaway last week offered $18.1 billion for the utility. Elliott, run by billionaire Paul Singer, said in a letter to the board of Energy Future Holdings Corp, parent of Oncor, that any transaction other than one led by creditors would increase regulatory risks.

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