In a Fast Money exclusive Dylan Ratigan reports first, that financing for a TXU buyout could be in place a soon as next week. And he says, the $32 billion deal will likely close by the end of October and possibly as soon as next Friday.
In September the Texas power company cleared the deal's final hurdle, and received permission from the Nuclear Regulatory Commission to be acquired by Kohlberg Kravis Roberts & Co and TPG Capital LP. But since that time woes plaguing all of M&A have fueled speculation that the buyout flame was flickering.
Bankers and traders are all shocked by how resilient the financing market is right now, says Ratigan. The deal is one of the largest private equity buyouts ever.
Finerman agrees that the speed and the depth of dealmaking is shocking. “I can’t convey how shocked I am at the speed!” She adds, “It’s like the credit crunch is over.”
Finerman says the Guitar Center (GTRC) deal also appears closer to getting done. She feels the trade is Lehman (LEH) or Goldman (GS) because they will be very active if dealmaking is back on.
The bottom line, says Dylan is that financing arrangements for many deals are in line and it appears to be driving them forward.
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Trader disclosure: On Oct 3, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (DIS), (HAS), (INTC); Macke Owned (DIS) And (HAS) On 9/10/07; Najarian Owns (BIDU); Najarian Owns (GS) Options; Finerman Owns (GS); Finerman Is Short (WYNN); Finerman's Firm And Finerman Own (KALU); Finerman's Firm Owns (ASD), (BWS), (NYX),(NMX), (BEAS), (PSS), (NVT); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts