Good Cop! Bad Cop! KKR and Texas Pacific Play the Shmooze Card Versus TXU's Threats Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

Good Cop! Bad Cop! KKR and Texas Pacific Play the Shmooze Card Versus TXU's Threats
 


6 April 2007 at 2:58:39 PM
salon

Remember yesterday how, WAH, TXU didn't get its way, so it threatened to close down some electricity plants? You have to wonder if KKR et al saw that and screamed "Arrgggh! What's WRONG with these MORONS?" or if they had it planned to look like the reasonable ones versus Crazy TXU. Whatever the case, they're slamming TXU in the media today.

The private investors trying to buy TXU Corp. said today they strongly disagreed with the utility's threat to shut down some of its power plants if it can't settle accusations of price manipulation.

Kohlberg Kravis Roberts & Co. and Texas Pacific Group said they have no intention of closing plants if they succeed in buying TXU, the largest power generator in Texas.

A letter this week from a TXU executive to state regulators mentioning potential power plant shutdowns "was not shared with the investor group in advance, and we strongly disagree with it,'' Kohlberg Kravis Roberts & Co. and Texas Pacific Group said in a statement.

The investors said they were ``strongly advising TXU'' to settle its dispute with regulators


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