The Big Deal Goes Green

Hollywood is not the only place concerned about global warming. Now Wall Street is worried too

David J. Phillip / AP

TXU Corp's. Big Brown power plant near Fairfield, Texas.

Al Gore, take another bow. Hollywood is not the only place concerned about global warming. Now Wall Street is worried too. On Feb. 25, the Texas utility TXU Corp. agreed to a proposed $45 billion buyout--the biggest deal ever to take a public company private--with major environmental initiatives attached.

Turns out the barbarians at the gate--Henry Kravis of Kohlberg Kravis Roberts & Co. and David Bonderman of Texas Pacific Group (TPG)--have a little tree hugger in them. Even before the deal with TXU was sealed, the buyout shops called up environmentalists and, in a 17-hr. meeting at San Francisco's Mandarin Oriental...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!