TXU Corp. board accepts biggest buyout offer in U.S. history | Grist | Daily Grist | 26 Feb 2007

News Type: Event — Seeded on Tue Feb 27, 2007 12:29 PM EST

Article Source: grist.org

business, wall-street, activist, shareholder

The buyout group behind the TXU purchase negotiated with environmental and shareholder activists prior to their purchase. This is a strong victory for activists as it was able to negotiate change by their mere presence in the corporate world.

The buyout group, led by Goldman Sachs and private equity firms Texas Pacific Group and Kohlberg Kravis Roberts, negotiated with TXU critics Environmental Defense and the Natural Resources Defense Council to settle pending lawsuits over the company's original coal-plant plan. In return, the new owners would build three plants instead of 11; support federal legislation to limit greenhouse gases; cut pollution; pursue wind power; spend $400 million to encourage energy efficiency; and cut consumer rates 10 percent.

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{"commentId":565456,"authorDomain":"Kathleenimbert"}

Kathleen Imbert

Thanks to activism and clear visions we will overcome! I wish that America can rise out of the old smoky 19th century mist and become green and healthy! Of all place, Texas to have coal energy. With its all its sun and closeness to the Gulf what is going on....?

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#1 - Sun Mar 4, 2007 4:43 AM EST

{"commentId":565457,"authorDomain":"Kathleenimbert"}

Kathleen Imbert

Thanks to activism and clear visions we will overcome! I wish that America can rise out of the old smoky 19th century misty mindset and become green and healthy! Of all place, Texas to have coal energy. With its all its sun and closeness to the Gulf what is going on....?

{"commentId":565457,"threadId":"81699","contentId":"589287","authorDomain":"Kathleenimbert"}

#2 - Sun Mar 4, 2007 4:44 AM EST

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	Bid Offer Biggest Buyout in History	The Dallas Morning News	Tue Feb 27	1
	Big Green Buyout in Texas	News at Nature	Wed Feb 28	0

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TXU Corp. board accepts biggest buyout offer in U.S. history | Grist | Daily Grist | 26 Feb 2007

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