TXU Finds No New Takers

Categories: News

TXU this morning issued a statement that the company's done shopping for takers: "No proposal was received that could reasonably be expected to result in a proposal superior to the definitive merger agreement announced February 26, 2007 with an investor group led by Kohlberg Kravis Roberts & Co. and Texas Pacific Group," reads the TXU release. So, with that news, TXU will go forward with its $44-billion private equity buyout plan, and company shareholders will be paid $69.25 per share following the closing of the deal, which is still subject to shareholder approval and other regulatory A-OKs. --Robert Wilonsky

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