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TXU's $43.8 Billion Deal Turns A Few Shades Greener

Law360 (February 26, 2007, 12:00 AM EST) -- After grassroots campaigning and a series of lawsuits, environmental groups managed to make TXU Corp.’s $43.8 billion buyout deal green. On Monday, the energy giant’s buyers significantly scaled back plans to build 11 carbon dioxide-spewing coal-burning plants.

On Monday, TXU’s board of directors approved an acquisition deal led by private equity firms Kohlberg Kravis Roberts & Co. and Texas Pacific Group for $31.8 billion, the largest leveraged buyout in history. The deal, including TXU’s debts, is worth $43.8 billion.

The groups will pay $69.25 per share...
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