Exelon Ups NRG Offer
Posted by Edward G. Lanza on 03 Jul 2009 | Tagged as: Energy, M&A
Exelon has today increased its offer to acquire NRG Energy by 12.4%. Yesterday, NRG had again recommended that its shareholders reject Exelon’s original offer, saying that it undervalued the company, but said that it would consider an increased offer.
Exelon has now offered to buy all the outstanding NRG common stock in an all-stock transaction with a fixed exchange rate of 0.545 of a share of Exelon common stock for each NRG share. The company said that this increased offer represents value of over $3 billion to NRG shareholders.
