From 1998 to 2007, the company was known as TXU Corporation until its $45 billion leveraged buyout by Kohlberg Kravis Roberts, Texas Pacific Group and Goldman Sachs Capital Partners. That purchase was the largest leveraged buyout in history., the company has been described as "struggling" which resulted in the April 29, 2014 filing for bankruptcy protection under Title 11 of the United States Bank
ruptcy Code.The majority of the company's power generation is through coal and nuclear power plants.On July 7, 2017, the company announced it would be acquired by Berkshire Hathaway.HistoryThe company traces its history to the beginnings of electric service in northern Texas. Predecessor companies include Dallas Power & Light (DP&L, founded 1917 with roots dating to 1882), which served the city of Dallas; Texas Electric Service Company (TESCO, founded 1929 with roots dating to 1885), which served Fort Worth and areas west of Abilene; and Texas Power and Light (TP&L, founded 1912), which served other areas of northern and west-central Texas. All three companies were owned by the Electric Bond and Share Company, a subsidiary of General Electric.
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