The top executive of Texas’ biggest electricity delivery company, Bob Shapard, recently testified about his concerns related to Dallas billionaire Ray Hunt’s bid to purchase Oncor. At a recent hearing before the Public Utility Commission of Texas (PUCT) in Austin, Shapard responded negatively when asked by a PUC attorney as to whether he thought Hunt’s plan to buy Oncor would be in public interest.
Geoff Bailey, Oncor’s director of communications, recently discussed the key concerns that Shapard has pertaining to Hunt’s proposed acquisition of Oncor. According to Bailey, Shapard stated that the Hunt transaction—as currently proposed—is not in the public interest because of disagreement on the four key issues he laid out in his written testimony (liquidity, lease flexibility, bond rating and pension funding). However, Bailey pointed out that Shapard also stated shortly thereafter that if the issues he highlights in his testimony can be worked out and taken care of, he believes this transaction can be in the public interest.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
