$1.7B NRG, GenOn Merger OK'd By Shareholders

Law360, New York (November 9, 2012, 4:36 PM EST) -- Shareholders in GenOn Energy Inc. and NRG Energy Inc. on Friday signed off on a $1.7 billion merger plan that will spawn the largest power producer in the U.S., two weeks after the companies settled suits contesting the tie-up's terms.

Under their agreement, investors in Houston-based GenOn will receive about 0.12 NRG shares for each of their units, a roughly 21 percent premium based on the companies’ stock prices before the power producers’ deal was announced in July.

Both GenOn, an energy wholesaler, and Princeton, N.J.-based NRG...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.