NRG Energy, GenOn Energy stockholders OK merger
When completed, the combination of NRG and GenOn will create the nation's largest competitive generator of electricity
Princeton, N.J. and Houston, November 9, 2012 — NRG Energy Inc. and GenOn Energy Inc. announced that the stockholders of both companies approved by substantial majorities the previously announced merger of the companies at their respective special meetings.
When completed, the combination of NRG and GenOn will create the nation's largest competitive generator of electricity, with about 47,000 MW of generating capacity. The combined company's portfolio of fossil, solar, nuclear and wind facilities can support more than 37 million homes.
Previously, the Federal Trade Commission had granted early termination of the Hart-Scott-Rodino waiting period, the Public Utility Commission of Texas had approved the transaction and the Nuclear Regulatory Commission had made a threshold determination that its approval of transaction was not required. The merger remains subject to the satisfaction or waiver of other closing conditions, including regulatory approvals by the Federal Energy Regulatory Commission and the New York Public Service Commission.
The merger is expected to close by the first quarter of 2013.