UPDATE 1-TXU says board to seek 30-60 rival bids

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HOUSTON Mar 1 (Reuters) - TXU Corp. TXU.N Chief Executive C. John Wilder said on Thursday that a special board committee will contact as many as 60 entities, including financial, energy and non-energy companies, as it pursues potential bids to rival Monday's $31.8 billion offer from two private equity firms.

Dallas-based TXU, Texas largest power company, agreed to be acquired by a private equity group led by Kohlberg Kravis Roberts & Co. [KKR.UL] and Texas Pacific Group [TPG.UL] in the largest leveraged buyout ever.

As part of the deal, TXU has until April 16 to solicit and consider other offers.

Wilder declined to say whether the independent committee of the board formed to evaluate rival offers has been contacted, but said he will be ready to meet with potential bidders to explain the company's businesses.

"I can say it's very important for our shareholders for the company to enthusiastically participate in the go-shop period," Wilder told Reuters. "We are very serious about working it."

Wilder said the company's financial adviser will reach out to a wide spectrum of potential bidders, including investment funds, other energy companies -- including major oil companies -- and non-energy companies.

TXU's chief executive said he is "hopeful" the KKR-led investment group can work with Texas legislators who have raised concerns about the impact of the transaction on the TXU customers and the state's electricity market. Wilder said TXU is open to altering the current transaction if the investment group seeks a change in order to obtain state approval.