TXU buyout terms and conditions?

Question

What happens if the deal is off

Answer 1

Deal was to buyout TXU and leverage it heavily.

Under the terms of the deal, TXU shareholders would receive $69.25 in cash for each TXU share. Goldman Sachs, Morgan Stanley, Lehman Brothers and Citigroup will take small stakes in TXU as well as help finance the debt with J.P. Morgan Chase. In addition, the investor group will assume more than $12 billion of TXU’s debt.

And if the deal is off, the stock continues to drop. ;-) People keep what they have, except TXU and JP Morgan Chase, who I'm sure negotiated a nice little chunk of change in case things fell through.

Hope that helps!