NRG Energy Incorporated

NRG Energy agrees to buy most of Edison Mission for $2.64 billion

NRG Energy Inc., the largest independent U.S. electricity producer, agreed to buy most of the assets of Edison International's bankrupt Edison Mission Energy for $2.64 billion to expand its coal and wind holdings. The purchase price consists of about 12.7 million NRG shares, with the balance to be paid in cash on hand, NRG said. About $1.06 billion is expected to be on hand at Edison Mission on closing. NRG shares fell 44 cents, or 1.5%, to $28.86 on Monday. Edison Mission operates coal-burning plants with a capacity of 4,300 megawatts, enough to power about 3.4 million average homes. The subsidiary of Rosemead-based Edison International also owns about 1,700 megawatts of wind...