Lawyers from Skadden, Arps, Slate, Meagher & Flom represent GenOn Energy Inc. of Houston in its pending acquisition by NRG Energy Inc. in a deal valued at $1.7 billion. Princeton, N.J.-based NRG is using lawyers from Kirkland & Ellis.
On July 22, the companies announced a definitive agreement to combine in a stock-for-stock, tax-free deal that calls for GenOn shareholders to receive 12.16 percent of a share of NRG common stock for each share of GenOn common stock they own. The new company, NRG Energy, will have operational headquarters in Houston and financial and commercial headquarters in Princeton. The transaction is expected to close by the first quarter of 2013 and is subject to customary closing conditions and regulatory approvals, including approval from both companies’ shareholders.
