Financial Times FT.com

Texas acts on TXU bid

By James Politi in New York

Published: February 27 2007 18:14 | Last updated: February 28 2007 00:17

The first signs of political opposition to TXU’s $45bn buy-out by private equity firms emerged on Tuesday as state senators in Texas moved to force the buyers to gain local approval of the deal.

In a 9-0 vote, a Texas senate committee pushed forward legislation that would grant a broader authority to the state’s utilities regulator on mergers and acquisitions.

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