|
COLUMBUS, Ohio (AP) - Exelon Corp. on Thursday sweetened its hostile takeover bid for NRG Energy Inc. by 12 percent to $8 billion in stock, citing newly identified cost savings along with NRG's recent deal for Reliant Energy's Texas retail business.
Exelon Chairman and CEO John Rowe called it a "best and final offer." The new bid ups the price for NRG by about $1 billion.
"Together the two company's shareholders get something very rare, a truly effective combination in an industry in which significant profitable growth is very hard to come by," Rowe said in a conference call.
|