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.
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?
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.