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.


Read more at Reuters.com Mergers News

TPG plans to buy into Russian grocer -paper

(Reuters) - MOSCOW, July 19 - Private equity fund TPG Capital is considering buying into Moscow's largest grocery chain Seventh Continent in a deal worth $1.1-$1.2 billion, Kommersant business daily reported on Thursday.



Both Seventh Continent and TPG declined to comment on the report. One source familiar with the matter said that there was no offer on the table.


Read more at Reuters.com Mergers News

British Airways to be patient on Iberia - CEO

(Reuters) - offer, its chief executive said on Thursday. British Airways is part of a consortium led by private equity firm Texas Pacific Group [TPG.UL] that has bid 3.60 euros a share for Iberia.



The offer is expected to be rejected by Iberia's board at a meeting on Thursday in the hopes of receiving a rival bid, according to a source familiar with the situation.


Read more at Reuters.com Bonds News

Italy allows U.S. fund into bidding for Alitalia

(Reuters) - ROME, June 19 - Italy has allowed U.S. private equity firm MatlinPatterson to re-enter the auction for airline Alitalia after fears arose that one of the two final bidders may quit.



The firm was earlier in a consortium with fellow U.S. private equity firm TPG [TPG.UL], which pulled out of the auction last month citing difficulties with the conditions imposed.


Read more at Reuters.com Mergers News

U.S. Stock-Index Futures Are Little Changed; Avaya Rises as Dell Declines

(Bloomberg) -- U.S. stock-index futures were little
changed before a service-industry report that may help investors
gauge the strength of economic growth and its implications for
Federal Reserve decisions on interest rates.

Avaya Inc. shares advanced in Europe after the company
agreed to be acquired by Silver Lake Partners and TPG Inc. in the
largest leveraged buyout of a computer-networking company. Dell
Inc., the world's second-largest personal-computer maker, fell.
Merrill Lynch & Co. downgraded the stock.


Read more at Bloomberg Stocks News

Hologic, Luna, NetBank, Pegasystems, The9, Altria, EGL: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 11:40 a.m. New York time.

Alltel Corp. (AT US) rose $4.69, or 7.2 percent, to $69.90
and traded as high as $70.45. Goldman Sachs Group Inc. and TPG
Inc. agreed to buy Alltel for about $24.7 billion in the largest
leveraged buyout of a telecommunications company. Investors will
get $71.50 a share, the mobile-phone company said in a statement.
The offer is 9.6 percent more than Alltel's last closing price.
Including debt, the bid values Alltel at $27.5 billion.


Read more at Bloomberg Stocks News

S&P 500 Futures Erase Gains as Oil Rises; Alltel Climbs on Buyout Offer

(Bloomberg) -- Standard & Poor's 500 Index futures
erased a gain after the price of oil rose, offsetting the
largest leveraged buyout of a telecommunications company.

Alltel Corp., the fifth-biggest U.S. wireless company,
climbed after a $24.7 billion offer from Goldman Sachs Group
Inc. and TPG Inc. Lowe's Cos. fell after the second-largest
home-improvement retailer reported profit that trailed analyst
estimates.


Read more at Bloomberg Stocks News