Berkshire Hathaway Inc (BRK.A)

[eFinanceMarkets]

$BRK.A Berkshire threatens to walk from Oncor if dates not met

Speaking at a conference with the judge overseeing the bankruptcy of Oncor parent Energy Future Holdings, a Berkshire Hathaway (BRK.A, BRK.B) attorney says Berkshire "will walk away" from the acquisition if initial court approval doesn't come by Aug. 21.

The hearing was held as Elliott Management is requesting initial approval be put off until it has time to line up financing for a rival bid. Elliott would like to see any deal pay the creditors of Energy Future (of which Elliott is the largest) more.

A hearing is set for next week at which Elliott will have the chance to prove Berkshire is making an empty threat about backing out.