green is the color of money.

largest leveraged buyout (LBO) in history goes down with the blessing of environmental groups

Before announcing the biggest buyout on record, the private equity buyers of utility TXU Corp. came calling on environmental groups, the latest sign of how the green lobby is increasingly shaping the agenda on Wall Street.

Dallas-based TXU Corp. said Monday it agreed to be taken over by famed buyout firm Kohlberg Kravis Roberts, Texas Pacific Group and the private equity arm of Goldman Sachs for a record $45 billion.

As part of the deal, the private equity owners agreed to abandon plans for eight of 11 controversial coal-fired power plants that TXU previously had aggressively sought, winning support for the buyout from two major environmental groups - Environmental Defense and the National Resources Defense Council.

Critics who had howled at TXU's initial plan to build 11 plants powered by coal hailed the decision as a victory, saying it would prevent 56 million tons of carbon emissions a year.

kohlberg kravis roberts ("kkr") is THE lbo firm (check the RJR nabisco buyout in the late 80s - i think it was the late 80's...) well at some point, they were bad ass mofos, and if they are attempting this one, they're probably still bad ass mofos.

and bad ass mofos kkr acquiesced to the greens to ensure their green. who'd a thunk!