NRG Energy, GenOn Energy merger moves forward
Early termination of the waiting period satisfies a condition to the closing of the merger
Princeton, N.J. & Houston, September 21, 2012 — NRG Energy and GenOn Energy jointly won notice from the Department of Justice and the Federal Trade Commission granting early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to the previously announced merger of NRG and GenOn.
Early termination of the waiting period satisfies a condition to the closing of the merger.
The merger remains subject to the satisfaction or waiver of other closing conditions, including approval by the shareholders of both companies, regulatory approvals by 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.
The merger is expected to close by the first quarter of 2013.
NRG power generating facilities can support more than 20 million homes and our retail electricity providers — Reliant, Green Mountain Energy Company and Energy Plus — serve more than two million customers.
GenOn owns a generation portfolio of about 22,700 MW, which includes baseload, intermediate and peaking units using coal, natural gas and oil.