Exelon drops NRG acquisition plan
Exelon Corporation has terminated its offer to acquire all of the outstanding shares of NRG Energy common stock at a fixed exchange ratio of 0.545 of a share of Exelon common stock for each share of NRG common stock.
Exelon took this action in light of the proxy vote results announced today at the NRG annual meeting. "The NRG shareholders have spoken, and Exelon will move on. We wish NRG and its owners well," said John Rowe, chairman and chief executive officer of Exelon.
Rowe added that the company would now redouble its focus on Exelon's stand-alone growth opportunities. "We have the nation's largest low-carbon nuclear fleet, and our plan to expand our nuclear output through up-rates provides even greater
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