TXU Agrees To $45 Billion Buyout - KLTV.com - Tyler, Longview, Jacksonville |ETX News

2/26/07-Tyler

TXU Agrees To $45 Billion Buyout

TXU is being sold for a $45 billion dollars. The company announced today, it has agreed to be sold to a group of private-equity firms. The sale of the Dallas-based company would be the largest private buyout in U.S. corporate history if shareholders go along.

The firms agreed cut down electricity prices by 10 percent. They will also to scale back TXU's controversial $10 billion plan to build eleven new coal-fired power plants. The company says the deal benefits everyone.

"This will help clean up the environment," said TXU Power community relations manager Rick Hanning.  He added, "The new owners have decided that they will lower rates overall over the next year. It would reduce prices by six percent within the first 30 days of the sale being complete and an additional four percent after that."

Governor Rick Perry welcomed the the sale in what he calls an "investment in emissions reductions, renewable sources, and Texas jobs."

Oralia Ortega, Reporting.  ortega@kltv.com

 

  • NewsMore>>

  • Dakar Burkes Memorial Car Show held in Louisiana

    Dakar Burkes Memorial Car Show held in Louisiana

    Saturday, May 19 2018 10:01 PM EDT2018-05-20 02:01:04 GMT
    The roar of high power engines and vintage classic automobiles were on display in one East Texas city, in an annual tribute to a young man, who was a homicide victim, who loved cars. The 9th annual Dakar Burkes memorial car show was held in Lakeport. Racers came in from thunder road Louisiana, as well as collectors from all over the state, to be part of the memorial car show. "They called us, invited us to this event, the cars behind us they run at that track so we brought the...More >>
    The roar of high power engines and vintage classic automobiles were on display in one East Texas city, in an annual tribute to a young man, who was a homicide victim, who loved cars. The 9th annual Dakar Burkes memorial car show was held in Lakeport. Racers came in from thunder road Louisiana, as well as collectors from all over the state, to be part of the memorial car show. "They called us, invited us to this event, the cars behind us they run at that track so we brought the...More >>
  • One person confirmed dead after fatal wreck on Highway 11

    One person confirmed dead after fatal wreck on Highway 11

    Saturday, May 19 2018 9:10 PM EDT2018-05-20 01:10:03 GMT

    One person was killed in a fatal crash in Hopkins County Saturday morning.

    More >>

    One person was killed in a fatal crash in Hopkins County Saturday morning.

    More >>
  • No injuries in late night Smith County house fire

    No injuries in late night Smith County house fire

    Saturday, May 19 2018 6:59 PM EDT2018-05-19 22:59:31 GMT
    (Source: KLTV News Staff)(Source: KLTV News Staff)

    Several fire departments are on scene where a large fire is burning near the toll road.

    More >>

    Several fire departments are on scene where a large fire is burning near the toll road.

    More >>
Powered by Frankly