(MENAFN) People familiar with the matter said, Bankrupt Texas usefulness Energy Future Holdings will give up on a deal to sell power transmission firm Oncor to Warren Buffett's Berkshire Hathaway Inc for U.S.D9 b and will accept a U.S.D9.45 b bid for Oncor by Sempra Energy instead.
he improvement represents a scarce blow for Buffett, who stays away from bidding wars for firms and had veto in two months ago to buy Oncor after two previous attempts by Energy Future to sell it were blocked by Texas regulators.
It is also a defeat for Greg Abel, the 55-year-old chief executive of Berkshire's energy unit who many operators consider a top candidate to finally succeed Buffett, 86, at the Omaha, Nebraska-based parent firm"s helm.
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