We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

TXU, McDermott Settle Over Boilers

Law360 (April 19, 2007, 12:00 AM EDT) -- McDermott International Inc. unit Babcock & Wilcox Co. and energy company TXU Corp. have agreed to a global settlement on eight coal-fired boilers that were initially planned for TXU’s power generation program.

Dallas-based TXU ordered the boilers in June 2006, but revealed in February its decision to cut back on the solid-fuel projects when TXU accepted a $32 billion takeover bid by private equity firms Kohlberg Kravis Roberts & Co. and Texas Pacific Group.

McDermott said Thursday that Babcock would provide the first three boilers, which...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.