McDermott Advises on Leveraged Buyout of TXU, the Largest LBO in History
NEW YORK (March 5, 2007) — McDermott Will & Emery represented Morgan Stanley & Co. Incorporated with respect to its equity commitment in connection with the proposed $45 billion leveraged buy out acquisition of TXU Corp., the Texas energy company. The transaction represents the largest leveraged buyout in history. KKR and Texas Pacific Group are the sponsors of the transaction. Goldman Sachs Capital Partners, Lehman Brothers Inc. and Citigroup also intend to become equity investors at the closing.
The transaction was led by New York corporate partners Stephen Older and Seth Goldsamt, and included Boston partner Greg Lawrence with respect to energy regulatory matters. The McDermott team also included Paul Kim (corporate), Wendy Cassity (corporate), Kumar Paul (tax), Joel Grosberg (regulatory), Shirley Fujimoto (regulatory).
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