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Exelon Bid To Toss NRG Suit Over $6B Merger Nixed

Law360 (April 23, 2009, 12:00 AM EDT) -- A judge has rejected a bid by electric utility Exelon Corp. to dismiss a case brought by reluctant merger target NRG Energy Inc., which claimed Exelon lied to the power company's shareholders to pressure its board to agree to the $6.2 billion acquisition proposal.

Judge John Koeltl of the U.S. District Court for the Southern District of New York denied Exelon's motion to dismiss the case in a one-page order Wednesday.

NRG filed its suit on March 17, alleging Exelon made an exchange offer to shareholders...
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