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Exelon Corporation
Exelon to Launch Exchange Offer for NRG Energy, Inc.
November 29th, 2008
Exelon Corporation (NYSE:EXC) announced that it will launch an exchange offer on Wednesday, Nov. 12 for all of the outstanding shares of NRG Energy, Inc. common stock at a fixed exchange ratio of 0.485 Exelon shares for each NRG share. "While we would have greatly preferred to enter into direct negotiations with NRG's board and management, their decision to reject our proposal, without any discussion with us as to the merits or structure of our proposal, has left us with no choice but to bring the offer directly to the NRG shareholders," said John W. Rowe, Exelon chairman and CEO. "Based on the positive investor response to our proposal, we expect our exchange offer...
Source: Law & Health Weekly (2008-11-29)
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