Exelon: Hostile Takeover of NRG is Out of the Gate (EXC, NRG)
November 13, 2008 by Douglas A. McIntyre
Exelon Corporation (NYSE:EXC) has officially kicked off its unsolicited takeover of NRG Energy (NYSE:NRG). We reported the details yesterday. Exelon needs to receive a majority of NRG’s shares outstanding (about 233 million total) by January 6, 2009, in order to clinch the deal.
As of yesterday’s closing prices, Exelon’s offer for NRG amounts toabout $6 billion, a premium of 24%. There’s no place else for NRGshareholders to look for that kind of return. Of course, those whobought NRG at its 52-week high of more than $45/share will still feelssome serious pain.
Whatever the outcome is, this one is still in the unresolved and unfinished business categories.
Paul Ausick
November 13, 2008
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.