Financial Times FT.com

NRG Energy rejects $8bn offer from Mirant

By James Politi in New York

Published: May 31 2006 00:25 | Last updated: May 31 2006 02:06

Mirant Corporation, the Atlanta-based electricity producer, on Tuesday night made an $8bn unsolicited approach to take over rival NRG Energy in a deal that would create the largest non-utility power company in the US, dominating the nation’s most populated regions.

The cash-and-stock bid from Mirant, which is supported by an $11.5bn financing commitment from JPMorgan Chase, was made public after NRG earlier this month rejected the offer.

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