WSJ: NextEra may face Elliott Management in Oncor deal talks

|About: NextEra Energy, Inc. (NEE)|By:, SA News Editor

NextEra Energy (NYSE:NEE) will need to deal with Elliott Management as it tries to salvage its deal to buy Oncor Electric, the profitable operating subsidiary of bankrupt Energy Future Holdings, as Paul Singer's firm recently acquired a significant position in Energy Future's debt, WSJ reports.

Elliott is now the largest holder in Energy Future's unsecured pay-in-kind notes and the second largest holder in the Energy Futures second lien notes, according to the report.

Lawyers for NEE said last week that the company was trying to salvage the deal, including trying to reach a compromise with Texas ratepayers who had raised objections.