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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Box-By-The-Riviera™ who wrote (342544)9/2/2007 9:50:13 PM
From: stan_hughes  Read Replies (2) of 436258
 
Please take my $1 billion and an apology, because I don't want to (translation: can't) close on the other $45 billion --

September 1 – The Times (Siobhan Kennedy): “The banks that underwrote the $45 billion acquisition of TXU Corp, the world’s biggest buyout, have offered to pay the $1 billion (£495 million) break fee in a desperate attempt to convince the private equity backers to drop their bid. It is understood that the banks asked Kohlberg Kravis Roberts and TPG to consider withdrawing their offer after the turmoil in the credit markets meant that the banks would have little or no chance of syndicating the record-breaking $37 billion loan to investors. The banks include Goldman Sachs, Morgan Stanley, Citigroup, Lehman Brothers and JPMorgan.”

business.timesonline.co.uk
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