TXU Finds No New Takers
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
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you'll never miss Observer's biggest stories.