DALLAS, April 3 (UPI) -- Takeover talks between Dallas utility TXU Corp. and a Blackstone Group private-equity syndicate have fallen apart, a published report said Tuesday.
The collapse in the talks between TXU and Blackstone, the Carlyle Group and Hellman & Friedman ends the possibility of a bidding war over a proposed $45 billion deal with investors led by private-equity firms Kohlberg Kravis Roberts & Co. and Texas Pacific Group, The Financial Times reported.
The newspaper did not say why the Carlyle talks broke down.
Neither Carlyle nor TXU commented on the report, but TXU said it received no firm offers from other would-be buyers.
The Dallas power company said it had solicited interest from U.S. utility companies, foreign utilities, other energy companies, financial sponsors and infrastructure investors.
Under its agreement with KKR and Texas Pacific, TXU has the right to solicit other proposals through April 16.
But TXU said it saw "no indication that any of the parties is preparing a proposal that will be superior from either a price or transaction certainty perspective" to the KKR deal.
