Shareholders Approve Creation of Powerhouse in Electricity Production (GEN) (NRG)
Tweet
Share
E-mailGet Alerts GEN Hot Sheet
Join SI Premium – FREE
NRG Energy, Inc. (NYSE: NRG) and GenOn Energy, Inc. (NYSE: GEN) today announced that the stockholders of both companies approved by substantial majorities the previously announced merger of the companies at their respective special meetings.
When completed, the combination of NRG and GenOn will create the nation’s largest competitive generator of electricity, with about 47,000 megawatts of generating capacity. The combined company's diverse portfolio of fossil, solar, nuclear and wind facilities can support more than 37 million homes.
Previously, the Federal Trade Commission had granted early termination of the Hart-Scott-Rodino waiting period, the Public Utility Commission of Texas had approved the transaction and the Nuclear Regulatory Commission had made a threshold determination that its approval of transaction was not required. The merger remains subject to the satisfaction or waiver of other closing conditions, including regulatory approvals by the Federal Energy Regulatory Commission and the New York Public Service Commission.
The merger is expected to close by the first quarter of 2013.
When completed, the combination of NRG and GenOn will create the nation’s largest competitive generator of electricity, with about 47,000 megawatts of generating capacity. The combined company's diverse portfolio of fossil, solar, nuclear and wind facilities can support more than 37 million homes.
Previously, the Federal Trade Commission had granted early termination of the Hart-Scott-Rodino waiting period, the Public Utility Commission of Texas had approved the transaction and the Nuclear Regulatory Commission had made a threshold determination that its approval of transaction was not required. The merger remains subject to the satisfaction or waiver of other closing conditions, including regulatory approvals by the Federal Energy Regulatory Commission and the New York Public Service Commission.
The merger is expected to close by the first quarter of 2013.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- LifeLock adds scam protection features and refreshes brand identity
- Presenting on Emerging Growth Conference 95 Day 1 on August 19; Register to live stream
- Myriad Uranium completes acquisition of Rush Rare Metals
Create E-mail Alert Related Categories
General News, Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
