Warren Buffett likes to buy companies without any competition, but he has found himself in the middle of a fight for the hottest power company in Texas.
A mystery third bidder has emerged for Energy Future Holding's Oncor, Dow Jones reported on Friday, citing comments picked up at a court hearing. The new bidder is offering $9.3 billion, Dow Jones reported, citing an unnamed source.
Buffett's Berkshire Hathaway has an all-cash offer on the table for $9 billion and has been battling for Oncor with fellow billionaire Paul Singer's Elliott Management, which is Energy Future Holdings' largest creditor. Last month, to offer $9.3 billion for the Texas-based power transmission company. It hired the deal advisory firm Moelis to help put the bid together.
In July, U.S. bankruptcy court judge in Delaware pushed back a hearing on the approval of the Berkshire offer, giving Elliott more time to solidify its bid. The hearing is now scheduled for Monday.
WATCH: Sources say Elliot Management hires Moelis for $9.3B Oncor bid
