Tuesday, November 11, 2008

NRG Energy Rejects $6.1 Billion Offer From Exelon

NRG Energy Inc., the second-largest power producer in Texas, rejected an unsolicited $6.1 billion takeover offer from Exelon Corp., the largest U.S. utility owner. The offer "significantly undervalues NRG and is not in the best interests of NRG's shareholders," Princeton, New Jersey- based NRG said in a statement today. "The Board thoroughly reviewed Exelon's proposal and reached its decision after careful consideration with its independent financial and legal advisers."

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