Franklin Resources Opposes KKR Buyout of TXU Corp (TXU)

In a 13D filing this afternoon on TXU Corp. (NYSE: TXU), 5.0% holder Franklin Resources (NYSE: BEN), changing their filing status from 13G (passive) to 13D (active), said the $69.25/share offer price from an investor group led by KKR and TPG is significantly below TXU's current actual value.

The firm said they believe that had the KKR buyout offer not been undertaken, the performance of TXU common stock from the announcement date of the KKR buyout offer to today would have been in excess of the actual level of performance realized by shareholders.

The firm does not support the buyout offer and intends to vote "NO" on the offer.