Aug

In Battle Over Texas Utility, Elliott Is Grasping at Straws

Elliott Management, the hedge fund run by Paul Singer, is grasping at straws in its battle for bankrupt Energy Future Holdings.

The hedge fund now owns enough of the company’s debt to block a takeover offer from Berkshire Hathaway, according to The Wall Street Journal and other reports. Yet such a move makes little sense without a viable alternative. The judge has wider interests to consider, and Berkshire’s boss, Warren E. Buffett, appears to see through Elliott’s posturing…

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In Battle Over Texas Utility, Elliott Is Grasping at Straws

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