TEXAS Utilities, the US power company, looks set to take the international loan market by storm with its audacious $7.43bn cash bid for Energy Group, the UK's largest electricity supplier. The bid, which is the latest and biggest salvo in the remarkable battle for control of Energy Group between Texas and Pacificorp, is backed by approximately $10.5bn of committed loan facilities, equally arranged and underwritten by Chase Manhattan, Lehman Brothers and Merrill Lynch.
March 06, 1998