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New Jersey based NRG Energy finalizing business merger

As an update to a story that we first reported back on Aug. 9 ("New Jersey Based NRG Energy announces business merger"), the merger between NRG Energy, Inc. and GenOn Energy, Inc. has received the necessary final approvals from the New York Public Service Commission and the Federal Energy Regulatory Commission. The business merger could not be completed until these authorizations have been received. NRG Energy should receive the written orders soon. NRG Energy has indicated that it will complete the merger as soon as possible after receiving the orders.

NRG Energy, a New Jersey based company, is the parent company of Reliant Energy, Inc. which is based in Houston. GenOn Energy is also based in Houston. It is said that with this merger, NRG Energy will be the owner of the largest power generator company in the nation.

The restructuring that will take place in connection with the merger will include the elimination of approximately 500 jobs between energy companies. The job cuts are said to be taking place in three stages, the first of which will eliminate the Chairman and CEO. That first round of cuts will take place in Dec., with two subsequent cuts to take place in Jan. and Feb. 2013.

Orchestrating a business merger can often require a lot of meticulous planning and patience. In order for a merger to be successful, each company has to be sure that every detail has been vetted and that all applicable laws and regulations have been adhered to by both companies. When two companies are considering merging, it may be a good idea to seek advice and assistance in order to ensure that nothing is missed and that everything goes smoothly.

Source: Houston Business Journal, "NRG, GenOn merger receives final regulatory approvals," Olivia Pulsinelli, Dec. 14, 2012

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