Posted on 02/23/2007 2:49:02 PM PST by HAL9000
Excerpt -
In what will be the largest leveraged buyout of all time, the private equity firm of KKR is close to announcing its purchase of TXU, the giant Texas utility that is the largest producer of power in that state, CNBC's David Faber has learned.TXU's board is expected to vote on the deal this weekend and an announcement is likely on Monday morning, people familiar with the situation told Faber.
TXU officials and KKR declined comment.
The exact price KKR will pay is unclear, Faber said. TXU's current market cap is $27.5 billion. It also has $12.3 billion in debt. Since the consideration will be in cash and given TXU's current enterprise value is roughly $39 billion, the addition of any premium will make it the largest lbo ever, topping blackstone's recent $39 billion purchase of equity office properties.
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(Excerpt) Read more at cnbc.com ...
Geeez Louise...
What will KKR sell off after they have it?
OR
How high will the rates have to go to cover the buyout?
I had to do a double-take. Though it said the KKK.
ping
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