TXU to Issue 5.7 Million Shares

The stock will be doled out in the settlement of 2002 Income Prides.
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TXU

(TXU)

said the purchase contracts that are a component of TXU's Income Prides issued in 2002 will settle at 1.5894 shares next Tuesday.

The rate is based upon the average of the TXU's closing share price for the 20 trading days ended Thursday.

The transaction will result in TXU issuing about 5.68 million shares of its common stock.

As a result of the settlement, the Income Prides will cease trading on the NYSE before the opening of the market on Tuesday.

This story was created through a joint venture between TheStreet.com and IRIS.