Friday, August 17, 2007
TXU advising employees to vote for the buyout
Photo not provided by TXU
Without the employee vote, TXU's buyout may go up in smoke
DALLAS — According to this story in the Dallas Business Journal, it appears TXU has circulated an internal web site urging its employees to vote on upcoming buyout.
Shareholders are set to vote on the buyout on Sept 7th, but the vote requires a 2/3 majority to pass.
Employees might be somewhat wary due to this week's news regarding KKR's financial problems. KKR, along with Texas Pacific Group, is the investor group attempting to buy TXU for $32 billion.
Posted by Todd M.
