February 26, 2007 |
Directors of the biggest utility in Texas, TXU Corp., agreed Sunday to a $45-billion buyout, with sweeping concessions for environmentalists and consumers, people involved in the deal said. It would be the largest such buyout by private investors. The agreement calls for TXU to scrap highly controversial plans for eight new coal power plants in Texas, a promise not to build them in any other state, and a vow to double investments in wind and other alternative energy sources.
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 16, 2006 |
A building boom that would add scores of coal-fired power plants to the nation's power grid is creating a new dilemma for politicians, environmentalists and utility companies across the United States. Should power companies be permitted to build new plants that pollute more but are reliable and less expensive? Or should regulators push utilities toward cleaner-burning coal plants, even if it means they will cost more and are based on unproven technology?
October 15, 2002 |
TXU Corp. made another attempt to restore its financial footing, slashing its quarterly dividend by 80% and saying it would sell all or part of its European operations. Shares in the utility and energy trader fell 31%, or $5.81, to close at $12.94 on the New York Stock Exchange. TXU said it was cutting the dividend to meet the new requirements of the credit-rating firms for investment-grade credit. TXU's board of directors declared a quarterly dividend of 12.
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.