Uncategorized

NRG, GenOn merger plans move forward

NRG Energy Inc. (NYSE: NRG) and GenOn Energy Inc. (NYSE: GEN) received approvals Sept. 21 from the Federal Trade Commission and the Department of Justice for their previously announced plans for a merger. The early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 satisfies a condition to the closing of the merger.

The merger was first announced in July. The combined company will be dual headquartered with the financial and commercial side in New Jersey and the operational side in Houtson and will retain the name of NRG Energy upon closing. The merger is expected to close by the first quarter of 2013.

The companies must still receive approvals by shareholders of both companies, the Federal Energy Regulatory Commission, the New York Public Service Commission and the Public Utility Commission of Texas, and the threshold determination by the Nuclear Regulatory Commission that its approval is not required.

Read more mergers and acquisitions news