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Bankruptcy fight over Oncor to test Buffett's discipline

The gap is pocket change for Berkshire, but Buffett pledged last Wednesday not to raise his offer

Jonathan Stempel & Jessica DiNapoli | Reuters 

Warren Buffett takes pride in naming his price to buy a company, and not paying a nickel more. But the largest US natural gas distribution utility, an unyielding hedge fund, and a Delaware bankruptcy judge now present one of the biggest challenges to the billionaire’s legendary discipline. The board of bankrupt Texas utility Energy Future Holdings will meet later on Sunday to decide whether to sell its crown jewel, power transmission company Oncor, to Buffett’s Berkshire Hathaway or accept an opposing bid from Sempra Energy, a person familiar with the confidential ...

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First Published: Mon, August 21 2017. 03:54 IST