|
|
Article: TXU Corp. Announces Settlement Rate for Corporate Units.
- Article from:
- PR Newswire
- Article date:
- November 12, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
TXU Corp. announced today the settlement rate for the first settlement of the purchase contracts that are a component of the TXU Corp. Corporate Units . The first settlement will occur on November 16, 2004. Since the "applicable market value" of TXU Corp.'s common stock is greater than the threshold appreciation price of $55.68, for each Corporate Unit, a holder of record as of November 15, 2004 will receive 0.4490 shares of TXU Corp. common stock.
Following the cash tender offer results announced on October 14, 2004, approximately 4 million Corporate Units remain outstanding. Thus, TXU Corp. will issue approximately 1.8 million shares of its common stock on ...