NRG Purchases GenOn
NRG Energy, Inc. (NRG) recently announced a $1.7 billion stock purchase of GenOn Energy, Inc. (GEN), making NRG the largest U.S. Independent electricity generator. In the deal, GenOn shareholders will receive 0.1216 share of NRG common stock for every one of their GenOn shares. This represents a 21% premium over GenOn's previous closing price. The combined companies will operate under the NRG name and bring together an enterprise value of $18 billion. The deal is scheduled to close by the first quarter of 2013.