TXU (TXU) said it expects its acquisition by a group led by Kohlberg Kravis Roberts and Texas Pacific Group to close Oct. 10.

The investor group has received debt-financing commitments from affiliates of Citigroup Global Markets, Credit Suisse Securities, J.P. Morgan Securities, Goldman Sachs, Lehman Brothers and Morgan Stanley to complete the buyout of the Texas-based utility.

The commitments include $24.5 billion of senior secured credit facilities and senior unsecured bridge loans of more than $11 billion.

"The closing of the merger will represent the culmination of many months of hard work by TXU's employees and board of directors and the representatives of KKR, TPG and other members of the investor group," said TXU Chairman and CEO C. John Wilder. "We are very pleased to be able to announce an expected closing date for a transaction that was overwhelmingly approved by TXU's shareholders."

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