Saturday, February 24, 2007
KKR & Co. (remember Henry Kravis?) is reportedly finalizing a deal to acquire the controversial Texas utility, TXU Corp., The New York Times says it will be for $45 billion, which would make it largest LBO to date; the Wall St. Journal says it will be for $32 billion. Environmental groups criticize TXU's plans to build eleven coal-fired power plants in Texas. KKR is partnering with Texas Pacific Group. See NY Times, At $45 Billion, New Contender for Top Buyout and WSJ, Buyout Firms Seek Utility TXU For $32 Billion.