February 24, 2007 |
Private investment companies Texas Pacific Group and Kohlberg Kravis Roberts & Co. are close to a deal to buy Texas utilities giant TXU Corp. in what is expected to be the largest leveraged buyout ever, according to people familiar with the negotiations. The sale, slated to be announced Sunday, will include "not only the acquisition, but some very major announcements related to global warming," one person told The Times.
October 9, 2002 |
Investors continue to exhibit extraordinary skittishness over the financial condition of some of the nation's biggest companies. That was hammered home for two big names Tuesday: * Shares of TXU Corp., a major energy services company, plunged as much as 39% on liquidity concerns before trading was halted, and TXU made a statement saying that its financial condition is "strong." That helped the stock rebound, though it still closed down $5.46, or 24%, at $17.18 on the New York Stock Exchange.
April 9, 2005 |
Edison Mission Energy, a subsidiary of Rosemead-based Edison International, said it would receive $210 million in payments stemming from a dispute with a TXU Corp. subsidiary that defaulted on an agreement to buy electricity from Edison Mission. In a filing with the Securities and Exchange Commission, Edison Mission estimated that the payments would increase net income by $90 million. * ChevronTexaco Corp. awarded a $1.
January 11, 2003 |
FleetBoston Financial Corp. said it earned half as much as forecast in the fourth quarter after setting aside $800 million to cover losses from loans to companies including United Airlines parent UAL Corp. and energy trader TXU Corp.'s European unit. Net income for the bank was $300 million, or 28 cents a share, falling short of the 57-cent average estimate of analysts surveyed by Thomson First Call. In the fourth quarter of 2001, FleetBoston posted a loss of $507 million.
April 2, 2007 |
Kohlberg Kravis Roberts & Co. is in talks to buy payment processor First Data Corp. for $25.6 billion in what would be the second-largest private equity transaction ever, a person familiar with the matter said. A deal could be announced as early as today, the source said. At $34 a share, the proposal represents a 26% premium to First Data's closing price Friday of $26.90 a share. KKR declined to comment. A spokeswoman for First Data, based in Greenwood, Colo., could not be reached for comment.
March 3, 2007 |
Federal regulators charged Friday that unknown investors pocketed more than $5.3 million in illegal profits from insider trading before TXU Corp. announced that it had agreed to be sold for $32 billion. The Securities and Exchange Commission said the insider trading was done through foreign brokerage firms to conceal the investors' identities.