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DALLAS (AP) - Private-buyout firms Kohlberg Kravis Roberts & Co. and Texas Pacific Group were in advanced talks Friday to buy utility TXU Corp. in one of the largest private-equity deals ever, according to a person close to the situation.
The person, speaking on condition of anonymity because the deal was not final, told The Associated Press that both private-equity firms were discussing a purchase of TXU. The person declined to give a likely price tag.
CNBC first reported that TXU's board was expected to vote on a sale to KKR over the weekend and an announcement could be made Monday morning. The Wall Street Journal reported that Texas Pacific was also involved, and that the firms were expected to bid at least $32 billion, or about $70 per share for TXU, the largest producer of electric power in Texas with some 2.3 million customers.
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