(Reuters) - TXU, the largest power generator in Texas, agreed in February to be acquired by a group led by private equity firms Kohlberg Kravis Roberts & Co. [KKR.UL] and TPG [TPG.UL], formerly known as Texas Pacific Group, for nearly $32 billion.
As part of the deal, TXU slashed its development plans to three coal-fired power units from 11 to gain support from environmental groups. It has also begun implementing a 10 percent electricity rate cut to push along the transaction.
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