TXU Says It Will Not Shut Power Plants

Law360, New York (April 9, 2007, 12:00 AM EDT) -- TXU Corp. has promised it will not shut down any power plants, after the private equity firms that bid to buy the utility firmly balked at a regulatory filing in which the company suggested it would close certain plants in order to avoid a $210 million fine.

In response to angry statements by Kohlberg, Kravis & Roberts Co. and Texas Pacific Group, which have proposed a $44 billion takeover, TXU on Friday asked the Public Utility Commission of Texas to ignore its April 2 filing....
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