Law To Probe TXU Deal Passes Texas Senate

Law360, New York (March 16, 2007, 12:00 AM EDT) -- The Texas Senate unanimously passed a bill Thursday that would more clearly lay out the Texas Public Utilities Commission’s power to review and approve proposed transactions involving public utilities, allowing it to clamp down on the controversial $44 billion takeover of TXU Corp.

“It clarifies that the PUC has the ability to review these sales and transactions that affect the public,” said Daniel Womack, press secretary to state Sen. Troy Fraser, who introduced the bill. “Why this came about is because we already thought that the...
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