The mega deal thrives
Buyout firms forge one megadeal after another. Blackstone Group wins a bidding war for Equity Office Properties Trust, the real estate investment trust owned by Sam Zell. Including debt, the historic deal is valued at $39 billion. Just weeks later, utility firm TXU agrees to be bought by Kohlberg Kravis Roberts, Texas Pacific Group and the private equity arm of Goldman Sachs in a deal valued at $45 billion - making it the biggest takeover of a U.S. company.