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Big Weekend Deals
O.K., so the offer of private-equity firms Texas Pacific Group and Kohlberg Kravis Roberts & Co. to acquire Dallas-based utility TXU Corp for about $45 billion was the big deal that was buzzing around financial circles over the weekend. As...
Refco tanks
As predicted here last week, Refco Inc. filed a chapter 11 case yesterday and announced late in the evening that an investment consortium led by private-equity fund J.C. Flowers & Co. LLC and Texas Pacific Group would seek Bankruptcy Court...
Judge Hughes hammers the FDIC in the Hurwitz case
One of the more interesting (and longstanding) local civil lawsuits turned an interesting corner yesterday. U.S. District Judge Lynn Hughes -- unquestionably the Houston federal judge most likely to challenge the government's position in any case -- handed down this...
Texas Pacific goes after Neiman's
Ft. Worth-based Private equity firm Texas Pacific Group and its partner Warburg Pincus are close to a deal to acquire luxury retailer Neiman Marcus Group Inc. for about $5 billion ($100 a share). The deal would be the latest in...
Texas Pacific's purchase of Enron Oregon utility scuttled
The Oregon Public Utility Commission announced Thursday that it had decided not to approve Texas Pacific Group's proposed $2.35 billion purchase of Enron subsidiary Portland General Electric because "the potential harms or risks to PGE customers from the deal outweigh...
Texas Pacific Group paddling upstream on Portland General Electric acquisition
This post from a couple of weeks ago noted this WSJ profile on Texas Pacific Group, the Fort Worth-based investment fund founded by former bankruptcy lawyer David Bonderman and business whiz Jim Coulter in 1993. Well, it appears that TPG...
WSJ profiles the Texas Pacific Group
This Wall Street Journal ($) article profiles the Texas Pacific Group, the Fort Worth-based investment fund founded by former bankruptcy lawyer David Bonderman and business whiz Jim Coulter in 1993. Originally established to invest in and restructure Continental Airlines to...
Enron pipeline sales close
Enron Corp.'s liquidating chapter 11 plan accelerated on Wednesday when the company closed the $2 billion sale of its prized remaining assets -- its interest in three natural gas pipelines. Enron's Bankruptcy Court approved the sale in September of Enron's...
Enron finalizes pipeline deal
Enron Corp. agreed to sell its CrossCountry Energy business to a venture of Southern UnionCo. and a General Electric Co. unit in a deal the companies valued at $2.45 billion. CrossCountry Energy holds Enron's interests in three domestic natural-gas pipelines...
The winner of the CenterPoint Energy auction
A group of four of the largest private-equity funds teamed up to win the hotly-contested auction for Texas Genco Holdings Inc., a merchant generating company spun off from CenterPoint Energy Inc., in a deal valued at $3.65 billion. CenterPoint stands...
Enron reorganization plan approved
U.S. Bankruptcy Judge Arthur Gonzalez approved Enron Corp.'s Chapter 11 reorganization plan today in New York, under which $63 billion of claims will share about $12 billion in cash and the value of stock in newly formed companies that will...
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