Business News That Impacts Your Air & Environment – TXU Takeover
In case you were unaware there has been a lot of controversy around TXU, Texas’ largest utility company, and their plans to build 11 new coal burning power plants. Plants that combined would produce enough greenhouse gases to offset the entire effort made by California’s tough environmental laws.
TXU faces a Texas coal rush
Today a huge event happened… TXU announced they are being acquired and in the process they’re reversing their stance on the controversial coal power plant production. They’ll be producing only 3 of the 11 plants. A lot of effort was made to court environmental group support, Environmental Defense and the Natural Resources Defense Council, for this acquisition. Lets hope this is the beginning of a trend towards environmentalist/corporate partnerships.
TXU takes $32B deal, cuts coal plans
Private Equity Buyout of TXU Is Enormous in Size and in Its Complexity
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