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Dueling bids for regulated business put mega-bankruptcy in flux

After less than three months, Energy Future Holdings Corp.'s restructuring is up in the air. Much of the uncertainty centers on the fate of Oncor Electric Delivery Co., a regulated transmission and distribution business that's largely controlled by Dallas-based Energy Future. A group that includes NextEra Energy Inc. of Florida is vying for Oncor, as is one that includes Texas' Hunt Consolidated Inc. The bidding has sparked discussion of a competition that could generate a more lucrative outcome, as well as a prolonged restructuring.

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