NRG rejects Exelon's takeover bid -- chicagotribune.com - 0 views
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Energy Net on 11 Nov 08NRG Energy, Inc. rejected Sunday a $6.1 billion takeover bid by Exelon Corp., openly challenging whether the Chicago-based parent company of Commonwealth Edison could successfully manage what would have been the country's largest power generation company. Exelon made an unsolicited all-stock offer last month that valued NRG at a 37 percent premium, a figure that dipped to 9.4 percent by the close of the stock market Friday. The offer proved underwhelming to the board of directors at NRG, which unanimously turned down a merger it said "significantly undervalues" the Princeton, NJ-based company.