24/7 Wall St.
11-13-2008, 09:00 AM
24/7 Wall St. Daily News
http://www.247wallst.com/images/2008/11/13/nrg_logo.gif</img> (http://247wallstreet.typepad.com/.shared/image.html?/photos/uncategorized/2008/11/13/nrg_logo.gif)Exelon Corporation (NYSE:EXC) has officially kicked off its unsolicited takeover of NRG Energy (NYSE:NRG). We reported the details (http://www.247wallst.com/2008/11/utilities-gone.html) yesterday. Exelon needs to receive a majority of NRG's fully diluted 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
http://feeds.feedburner.com/~f/typepad/RyNm?i=VuzfN</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=VuzfN) http://feeds.feedburner.com/~f/typepad/RyNm?i=uE1sN</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=uE1sN) http://feeds.feedburner.com/~f/typepad/RyNm?i=Qjbzn</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Qjbzn)
complete story here... (http://www.247wallst.com/2008/11/exelon-hostile.html)
http://www.247wallst.com/images/2008/11/13/nrg_logo.gif</img> (http://247wallstreet.typepad.com/.shared/image.html?/photos/uncategorized/2008/11/13/nrg_logo.gif)Exelon Corporation (NYSE:EXC) has officially kicked off its unsolicited takeover of NRG Energy (NYSE:NRG). We reported the details (http://www.247wallst.com/2008/11/utilities-gone.html) yesterday. Exelon needs to receive a majority of NRG's fully diluted 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
http://feeds.feedburner.com/~f/typepad/RyNm?i=VuzfN</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=VuzfN) http://feeds.feedburner.com/~f/typepad/RyNm?i=uE1sN</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=uE1sN) http://feeds.feedburner.com/~f/typepad/RyNm?i=Qjbzn</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Qjbzn)
complete story here... (http://www.247wallst.com/2008/11/exelon-hostile.html)