NRG Energy gets waiting period termination for Edison Mission purchase

By Caroline Salls

Pittsburgh, Dec. 2 - NRG Energy, Inc. said it was granted early termination of the Hart-Scott-Rodino Antitrust Improvements Act of 1976 waiting period for the acquisition of Edison Mission Energy, according to an 8-K filed Monday with the Securities and Exchange Commission.

The early termination was granted by the Department of Justice and the Federal Trade Commission and satisfies a condition to the closing of the acquisition.

NRG said it expects to close the transaction in the first quarter of 2014.

The transaction remains subject to the approval of the U.S. Bankruptcy Court for the Northern District of Illinois, the effectiveness of the registration statement and approval for the listing of the NRG common stock on the New York Stock Exchange, and the receipt of regulatory approval by the Federal Energy Regulatory Commission and the Public Utility Commission of Texas.

As previously reported, Edison Mission's plan of reorganization calls for a sale of substantially all of Edison Mission's assets, including its direct and indirect equity interests in debtor and non-debtor subsidiaries to NRG Energy Holdings Inc.

NRG has agreed to pay $2,635,000,000, comprised of $2,285,000,000 payable in cash and $350 million payable in parent common stock.

Edison Mission, a Santa Ana, Calif.-based owner, operator and leaser of a portfolio of electric generating facilities, filed for bankruptcy on Dec. 17, 2012. Its Chapter 11 case number is 12-49219.

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