Wednesday and Thursday are Weather Aware days due to the potential for locally heavy rainfall. Beware of flooded road-ways and never drive around barricades or into water more than six inches deep. High rainfall rates may reduce visibility and also increase the risk of hydroplaning. Turn around, don’t drown! Isolated strong thunderstorms may develop late Wednesday afternoon, but widespread severe weather does not appear to be likely at this time.
The Associated Press is reporting that TXU could be a part of the largest private buyout in US corporate history. Sources told the AP that directors of TXU gave tentative approval to sell the electric company for over $32 billion dollars.
The private equity firms Kohlberg, Kravis, Roberts and Company, and Texas Pacific Group were offering over $32 billion dollars, plus $12 billion in debt service. The final details are still being worked out. KKR and Texas Pacific Group agreed over the weekend to drop most of TXU's plans for building eight new coal-fired plants, if the deal goes through. There is no word on which plants would be dropped.