PRINCETON, N.J. & HOUSTON–(BUSINESS WIRE)–Oct. 25, 2012— NRG Energy, Inc. (NYSE: NRG) and GenOn Energy, Inc. (NYSE: GEN) today announced that the Public Utility Commission of Texas (PUCT) has approved the planned merger of NRG and GenOn.
Approval of the merger by the PUCT satisfies a condition to the closing of the transaction.
As specified in the merger agreement, the transaction remains subject to the satisfaction or waiver of other closing conditions, including state regulatory approval in New York, approval by the Federal Energy Regulatory Commission, approval by the shareholders of both NRG and GenOn at special meetings of both companies to be held on November 9 and the threshold determination by the Nuclear Regulatory Commission that its approval is not required.
The transaction is expected to close by the first quarter of 2013.