Texas power company Energy Future Holdings, formerly known as TXU Corp, has proposed a prepackaged bankruptcy that would restructure $32 billion of debt, but no deal has been reached, writes Reuters. The company is trying to restructure more than $30 billion in debt it was saddled with after the buyout by a consortium including KKR & Co, TPG Capital Management and Goldman Sachs Group Inc‘s private equity arm, writes Reuters.

PE firms are saying ‘Cheese!’ and LBO shop Hellman & Friedman may come away with the biggest smile of all in this sponsor-to-sponsor deal.

US buyout firms Blackstone Group, Carlyle Group and KKR & Co are talking to banks on potential bids for about half of Australia’s Pact, writes Reuters. The deal could value the privately held packaging company at as much as $1.4 billion, according to Reuters. Reuters – U.S. buyout firms Blackstone Group, Carlyle Group and KKR [...]

Adam Clammer and Herald Chen have resigned from the board of struggling photography company Eastman Kodak, Reuters reported, citing a Tuesday filing with U.S. regulators. Both directors represented private equity firm KKR & Co.