Energy Future Said to Hold Last-Minute Talks to Ease Bankruptcy

Energy Future Holdings Corp. is in talks with creditors on an 11th-hour plan that would speed a bankruptcy reorganization of the electricity provider known as TXU Corp. when it was bought in a $48 billion leveraged buyout, said two people with direct knowledge of the discussions.

While private-equity firms KKR & Co., TPG Capital and Goldman Sachs Capital Partners that led the buyout and unsecured lenders to the company’s Energy Future Intermediate Holding Co. unit have agreed to a deal, Fidelity Investments, which is a key bondholder in the parent company, has balked so far, said the people, who asked not to be identified because the talks are private.