NEW YORK, Feb. 27 (UPI) -- Texas utility TXU Corp. is approaching private-equity groups to gauge their interest in beating a $45 billion takeover bid, a published report said Tuesday.
TXU's bankers have contacted several buyout groups, including Apollo Management, the Blackstone Group, the Carlyle Group, Hellman & Friedman and Warburg Pincus since the Kohlberg Kravis Roberts and Texas Pacific Group takeover was announced Monday, The Financial Times reported.
On a conference call with analysts, TXU executives said it was "very likely that there is going to be interest" in a counterbid, the newspaper reported.
But Wall Street investors were skeptical the 50-day period during which TXU is required to search for alternative offers would result in a higher bid, the newspaper said.
