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Oncor Is Buffett's Latest Dealmaking Flop

  • Sempra gets Texas utility after Elliott outmaneuvers Berkshire
  • ‘Gentleman’s agreement’ style questioned after Unilever loss
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Bloomberg’s Scott Deveau discusses a deal between Sempra and Oncor, and what it means for Berkshire Hathaway. He speaks with David Westin and Alix Steel on 'Bloomberg Daybreak: Americas.' (Source: Bloomberg)

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

Buffett’s $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.