Berkshire’s flop on Oncor adds to Buffett’s dealmaking woes

By Scott Deveau, Noah Buhayar and Matthew Monks

The year isn’t shaping up to be the stuff of Warren Buffett dealmaking legend.

Buffett’s US$9 billion bid to acquire Oncor Electric Delivery Co. started to unravel last week after Paul Singer’s Elliott Management Corp. outmaneuvered the Oracle of Omaha by acquiring a small parcel of unsecured debt. That opened a window for Sempra Energy to swoop in and strike a deal to acquire the Texas utility.

The loss comes six months after another...

What feeling does this article give you?

#hashtags to follow:

Scott Deveau [+]    Warren Buffett [+]    Buffett [+]    Oncor Electric Delivery Co [+]    Paul Singer [+]    Elliott Management Corp [+]    Oracle of Omaha [+]    Sempra Energy [+]    Texas [+]   

More #news: