Chart of the Week II: Berkshire Hathaway's Growing Utility Bandwidth
Now imagine adding Oncor to this...
Post-Reorg Equities, Oncor, & Elliott Management
Paul Singer is Keeping Busy
We've previously discussed post-reorg equities here, noting the mild rollercoaster that Peabody Energy ($BTU) equity has been on post-emergence. This week Elliott International Inc. filed a 13-D highlighting increased ownership in the stock. Speaking of Elliott, the firm received additional time to further consider its bid for the Oncor assets it is purportedly competing withBerkshire Hathaway for. Here (video), Elliott's Paul Singer clowns on the value of Trump bonds. Elsewhere, a lot of bonuses just got flushed down the toilet as Basic Energy Services ($BAS) reported earnings and the stock promptly traded down nearly 20%. Management resorted to boring tropes about the weather and holidays affecting revenue.
Oncor Battle Looms. Pop Some Popcorn
Elliott Management Corporation goes on the offensive and plans to engage in financial fisticuffs with Warren Buffett in court.
Notable (Loan Defaults, Oncor, Staples, Takata Corp)
Loan Deficiencies. Some interesting numbers here.
Oncor. Warren Buffett to the rescue? Perhaps, perhaps not. It seems there may be competition for the asset. It looks like Kirkland & Ellis LLP and Gibson Dunn & Crutcher LLP stand to make good fees on the transaction if it goes through.
Staples. Details on Sycamore Partners' proposed LBO financing here.
Takata Corp. More professionals with a seat at the table.