Hints and tips:
...“They’re in the business of ideally doing multiple deals with your portfolio companies. They know that if they act poorly, my job is to not show them future business.”...
...After disastrous bets on Texas utility TXU and casino empire Caesars Entertainment, TPG has over the past decade sought to reposition itself as one of the buyout industry’s top investors in fast-growing...
...“I don’t think KKR is in the business of playing the rabbit,” one adviser following the situation told DD....
...It had been weighed down by several disastrous bets, most notably its buyouts of Texas utility TXU and casino empire Caesars Entertainment....
...It ranks as one of the largest-ever private equity deals, behind the $44bn buyout of US energy group TXU Corporation in 2007....
...Other failed bets included large investments in energy company TXU and casino group Caesars Entertainment, both of which later entered bankruptcy....
...The history of the Texas energy business is not only that of vast fortunes won, but of fortunes lost....
...Mr Morgan said he does not foresee future investment in gas, instead shifting capital towards renewables, batteries and Vistra’s retail electricity business....
...The largest LBO in history, that of Texas power company TXU, raised $30bn of new debt in 2007 in shallower capital markets. The remaining $30bn of equity would be challenging....
...When a group of private equity firms struck a €17.2bn deal to buy Thyssenkrupp’s lifts business last month — even as global stocks whipsawed on fears about the coronavirus outbreak — it became one of the...
...ever: it’s proposing a leveraged buyout of Walgreens, which is almost double the size of TXU....
...As we do with our entire business globally, we will continue to adapt and evolve our business model in Europe to best address the market opportunity.”...
...In 2007 a consortium including TPG and KKR bought the Texas power company TXU in a $45bn deal — but it filed for bankruptcy in 2014....
...The current record buyout, of energy company TXU in 2007, was valued at $45bn....
...The biggest buyout since KKR took energy company TXU private in 2007 would be a giant test for the debt markets....
...The $70bn deal would dwarf the current record buyout of energy company TXU in 2007, which was valued at $45bn. We’re certain bankers are drooling over the prospect — imagine the size of the fees!...
...You know the ones: RJR Nabisco, TXU and Harrah’s Entertainment....
...The largest was Blackstone’s $17bn acquisition of Thomson Reuters’ financial and risk business, now known as Refinitiv....
...Several of the underlying companies also later struggled under their hefty debt load, with $45bn LBO of energy company TXU in 2007 culminating in its bankruptcy seven years later....
...TXU was also saddled with more than $40bn debt and a steep fall in natural gas prices helped result in its bankruptcy....
...Mr Wilder is a former chief executive and chairman of TXU Corp, a Texas utility company. The duo worked together before in campaigns against two other US utility groups, NRG Energy and FirstEnergy....
...That has always annoyed Nissan’s leadership, which also views itself as the stronger business of the two....
...Crucially, the bankruptcy does not touch the regulated FirstEnergy business, whose market cap is $16bn....
...Kekst died last year, having not played an active role in the business for years due to poor health....
...The leverage on the Thomson Reuters business Blackstone is buying is expected to top eight times its annual earnings, Moody’s analysts say....
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