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...

By Robert Wilonsky

April 18, 2007

[
        {
          "name": "Air - MediumRectangle - Inline Content - Mobile Display Size",
          "component": "18855504",
          "insertPoint": "2",
          "requiredCountToDisplay": "2"
        },{
          "name": "Editor Picks",
          "component": "17105533",
          "insertPoint": "4",
          "requiredCountToDisplay": "1"
        },{
          "name": "Inline Links",
          "component": "18349797",
          "insertPoint": "8th",
          "startingPoint": 8,
          "requiredCountToDisplay": "7",
          "maxInsertions": 25
        },{
          "name": "Air - MediumRectangle - Combo - Inline Content",
          "component": "17105532",
          "insertPoint": "8th",
          "startingPoint": 8,
          "requiredCountToDisplay": "7",
          "maxInsertions": 25
        },{
          "name": "Inline Links",
          "component": "18349797",
          "insertPoint": "8th",
          "startingPoint": 12,
          "requiredCountToDisplay": "11",
          "maxInsertions": 25
        },{
          "name": "Air - Leaderboard Tower - Combo - Inline Content",
          "component": "17105535",
          "insertPoint": "8th",
          "startingPoint": 12,
          "requiredCountToDisplay": "11",
          "maxInsertions": 25
        }
      ]

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

Become A Member

BEFORE YOU GO...
Can you help us continue to share our stories? Since the beginning, Dallas Observer has been defined as the free, independent voice of Dallas — and we'd like to keep it that way. Our members allow us to continue offering readers access to our incisive coverage of local news, food, and culture with no paywalls.