Texas OKs TXU plan to avoid future market abuse

(Reuters) - The plan sets out "clear guidelines" for TXU that will
serve as a defense against future market-abuse charges, said
TXU spokesman Lisa Singleton. The plan sets out power volume,
price formulas and other operational rules for the company,
according to the filing.




Dallas-based TXU has agreed to be acquired by a group of
private equity firms led by Kohlberg Kravis Roberts & Co.
[KKR.UL] and Texas Pacific Group [TPG.UL] for $32 billion.


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UBS aiming for top five U.S. M&A ranking - report

(Reuters) - Alex Wilmot-Sitwell, the bank's other joint global head of
investment banking, noted UBS had not been involved in "jumbo
deals" like TXU Corp.'s $32 billion buyout by a private
equity group led by Kohlberg Kravis Roberts & Co. [KKR.UL].




"In order to change our positioning in this market ... we
have to bank the large clients," Wilmot-Sitwell told the
newspaper.


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UPDATE 1-Air Liquide shares rise on KKR bid talk - traders

(Reuters) - LONDON, July 10 - Shares in French industrial
gases group Air Liquide rose sharply on Tuesday on
market talk of bid interest from private equity group KKR
[KKR.UL], traders said.




At 0814 GMT, Air Liquide stock was up 4.5 percent, topping
gainers on France's CAC 40 index , which was up 0.05
percent.


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DEALTALK-KKR aims to take role of banks with IPO

(Reuters) - Private equity firm Kohlberg Kravis Roberts & Co. [KKR.UL]
said in its IPO prospectus earlier this week that the $1.25
billion offering will allow the firm to expand its ability to
syndicate equity and reduce reliance on third-party sources of
capital.




Syndicating leveraged buyout equity is normally the role of
investment banks. Does KKR wish to cut banks entirely out of
the LBO process? The answer is no, sources close to the firm
say, since the firm will still rely on banks to handle the debt
borrowed for the deals.


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KKR Offers Safeguards, Discount to Investors for $1.4 Billion Maxeda Loan

(Bloomberg) -- Kohlberg Kravis Roberts & Co.
strengthened investor safeguards and offered a discount to
borrow $1.4 billion for Dutch DIY retailer Maxeda BV, said a
banker involved in the transaction.

KKR is selling the debt at 99.75 percent of face value and
adding a so-called maintenance covenant that restricts how much
it can borrow relative to cashflow, according to the banker, who
declined to be identified because the deal isn't completed.


Read more at Bloomberg Bonds News

Kohlberg Kravis Earns Half as Much as Schwarzman's Blackstone Before IPO

(Bloomberg) -- Kohlberg Kravis Roberts & Co., whose
funds control companies with more than $100 billion in annual
revenue and 560,000 employees, earned half as much as its
largest competitor, Blackstone Group LP.

KKR, which announced plans this week to raise about $1.25
billion in an initial public offering, reported net income of
$1.1 billion in 2006, trailing Blackstone's $2.3 billion,
according to a filing with the U.S. Securities and Exchange
Commission.


Read more at Bloomberg Bonds News

UPDATE 2-Buyout firm KKR files for $1.25 bln IPO

(Reuters) - The planned IPO follows last month's high-profile listing of
rival Blackstone Group LP , which raised $4.13 billion and
ushered in a new era for an industry that has come to dominate
financial markets worldwide by pursuing ever-larger takeovers and
raising record amounts of capital.




Unlike the Blackstone IPO, however, KKR's owners are not
selling any common units or receiving any net proceeds.


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Cadence Design buyout talks stall over price-NYT

(Reuters) - At $6.5 billion, Cadence may be too expensive for the firms,
the Times said. The Times first reported interest in Cadence on
June 4.




Neither Blackstone, KKR nor Cadence immediately returned
calls seeking comment.


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Boots pension deal seen 'in days' - sources

(Reuters) - Private equity firm Kohlberg Kravis Roberts & Co. [KKR.UL], whose 11.1 billion pound offer was approved last month, has offered the scheme about 340 million pounds over 10 years plus a 600 million pounds safety package, one source said, and discussions are now focusing on technical aspects.



"It's very easy to say something's worth 600 million pounds and when it comes to it, it's worth 100 million pounds," another source close to the matter said.


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UPDATE 1-KKR seeks more Taiwan investments after Yageo deal

(Reuters) - TAIPEI, June 7 - KKR, one of the world's largest
private equity firms, said on Thursday it is aiming to make more
investments in Taiwan over the next six months, following its
first ever investment in the increasingly popular market.




Kohlberg Kravis Roberts & Co. [KKR.UL] announced its first
deal in Taiwan late on Tuesday, saying it would buy US$230
million of Yageo Corp.'s convertible bonds, which could
give it a 16.1 percent stake in the electronics parts maker.


Read more at Reuters.com Mergers News