Shareholders approve TXU buyout


C. John Wilder,
Chairman and CEO,
TXU Corp.
Dallas, TX, U.S.A. — (METERING.COM) — September 10, 2007 – Shareholders in Texan utility TXU have approved the takeover of the company by private equity firms Kohlberg Kravis Roberts and TPG. The Federal Energy Regulatory Commission (FERC) has already given its approval, having found that the sale would not be likely to affect energy customers adversely.

There are still some approvals awaited, however, but the investors hope these will be granted shortly and that the sale can be completed within the next few weeks.

Texas law requires that two-thirds of those holding shares in TXU have to approve the deal; in the end over 70 per cent of shareholders gave their consent to the buyout.