Exelon offers to buy NRG Energy
The Associated Press
Two years ago when NRG Energy Inc. rebuffed an $8-billion buyout offer, it said the bid was far too cheap to be taken seriously.
There may be a bit of shareholder remorse this week, with prospective buyers now eyeing deals through the lens of a global economic downturn.
Nuclear power giant and utility operator Exelon late Sunday night made an unsolicited $6.2-billion all-stock bid for NRG in a proposal that would create the nation’s largest power company.
The combined Exelon and NRG would be big enough to power nearly 45 million homes with 47,000 megawatts, Chicago-based Exelon said.
Under terms of the proposal, Exelon would exchange 0.485 of an Exelon share for each NRG share.
