Private equity buys TXU in record deal
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Texas power company TXU Corp.  said on Monday it agreed to be acquired by a group led by private equity firms Kohlberg Kravis Roberts & Co.  and Texas Pacific Group  for $31.8 billion in the largest leveraged buyout in history.
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Lone Star Funds, the buyout firm founded by John Grayken, plans to sell a stake in Korea Exchange Bank for as much as $1.1 billion after its move to divest entirely was derailed last year by a legal dispute. Lone Star is offering 73.1 million shares, or 11.3 percent of Korea Exchange, for 13,150 to 13.750 won ($14.19 to $14.84) a share, according to an e-mail message sent to fund managers by the Credit Suisse Group, the investment bank arranging the sale. Shares in Korea Exchange fell 1.7 percent, to 14,600 won, up 14 percent this year. Lone Star, based in Dallas, has struggled for two years to sell the controlling stake it bought in 2003 as Korean prosecutors contend that the firm purchased the shares at an artificially low price. The sale of part of the Seoul-based bank would allow Lone Star to return money to investors while the case is pending and retain a majority stake.
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Media & professional: A consortium of four private equity firms is looking at buying Virgin Media, the $8bn (Â£4bn) cable company involved in a spat with BSkyB and whose biggest shareholder is Sir Richard Branson.
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Texas Pacific and KKR could announce the biggest private equity buyout ever as soon as Monday.
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The luggage maker Samsonite said that it had agreed to be bought by the private equity firm CVC Capital Partners in an all-cash deal of about $1.7 billion, including assumption of debt.
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Texas power company TXU Corp. (TXU.N: Quote, Profile, Research) on Monday raised its dividend by 350 percent, boosted its earnings forecast and increased its share buyback program
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The private-equity firm invests more than 10% of its assets in the latest quarter.
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The artificial joint maker accepted a bid of $11.4 billion from a private equity consortium.
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NEW YORK --Kohlberg Kravis Roberts &amp; Co. is poised to buy Texas utility owner TXU Corp. in the biggest-ever leveraged buyout.
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TXU has all the hallmarks of a prize in a private equity tug of war.
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Before announcing the biggest buyout on record, the private equity buyers of utility TXU Corp. came calling on environmental groups, the latest sign of how the green lobby is increasingly shaping the agenda on Wall Street.
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LONDON (CBS.MW) -- Spanish bank BBVA (BBV) on Tuesday said it has agreed to buy privately-held Laredo National Bancshares of Texas for $850 million.
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Private equity house Lone Star sold a  larger-than-expected 13.6 percent stake in lender Korea  Exchange Bank, raising $1.28 billion, a source said, as the  U.S. firm begins to exit an investment burdened by legal  challenges.
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The orthopedic device maker on Thursday accepted a takeover bid of $11.4 billion from a private equity consortium.
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The deal, for $17.50 per share, continues a recent trend of networking and telecommunications firms being bought by private equity firms.
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Computer retailer CDW Corp.  became the latest company to be swallowed up by a private equity firm, announcing on Tuesday it had agreed to be bought by Madison Dearborn Partners LLC for $7.3 billion.
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Merger and acquisition activity in the first six months of 2007 hit a record, boosted by the battle for Dutch group ABN Amro and rapid growth of the private equity sector, a study showed on Friday.