Monday, April 2, 2007
TXU still waiting for better offers in proposed buyout
DALLAS — The TXU buyout saga continues, but TXU is saying that no better offers have yet been received. Under the terms of the merger agreement, TXU has the right to solicit other proposals through April 16, 2007.
Photo not provided by TXU
TXU is still waiting for an offer it can't refuse
TXU has entertained interest from over 70 potential purchasers, including US utility companies, non-US utility companies, other energy companies and financial sponsors and infrastructure investors, but as of April Fool's Day none of the parties contacted has submitted a formal proposal.
Although they are open to other offers, the company is now publicly stating that no superior offers will probably be received before the deadline.
Source: TXU
