Tuesday, December 4, 2007
Warren Buffett buys $2 billion in TXU junk bonds
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Photo not provided by Berkshire Hathaway, TXU
Smart and rich. Hel-lo, ladies
DALLAS — According to this story in the Dallas Business Journal, it appears that infamous American billionaire Warren Buffett's company Berkshire Hathaway has decided to purchase some $2 billion in TXU junk bonds. Buffett previously made a mint on TXU stock in 2002, when the company was near bankruptcy, before turning a profit in 2004.
According to Breakingviews’ Lauren Silva, because Mr. Buffett is paying 95 cents on the dollar for securities that were originally sold at virtually par, he stands to make quite a bit of change on this deal, especially now that TXU is a partially regulated business and its cash flow is stable. It's entirely possible that Buffett may actually make better returns from his investment than the utility’s equity investors, KKR and Goldman.
Posted by Todd M.
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Comments
Lisa Lawrence Merritt Verified
LMFAO!! This is great!
Absolutely luuuuvvvv the "Smart and rich. Hel-lo, ladies".
11 months, 3 weeks ago ( Link to this comment | Suggest removal )
Catawba Anonymous
First time I've seen the adjective "infamous" used in the Three Amigos sense in writing. Very droll.
11 months, 2 weeks ago ( Link to this comment | Suggest removal )
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