Exelon Presents $6.2B Bid For NRG To Stockholders

Law360, New York (November 12, 2008, 12:00 AM EST) -- Exelon Corp. announced Wednesday that it would take its $6.2 billion buyout offer directly to NRG Energy Inc.'s shareholders, after the board of directors for the power generation company expressly rejected the unsolicited bid.

By launching an exchange offer for all outstanding shares of NRG common stock, Exelon, a major electric utility, said it would give investors the chance to weigh the merits of the merger for themselves.

“Exelon remains hopeful that NRG will ultimately recognize the value of working with Exelon in a direct and...
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