It has proposed an all-stock transaction with a fixed exchange ratio of 0.545 of a share of Exelon common stock for each NRG share, which constitutes a 12.4 percent increase over the initial exchange offer of 0.485 of a share. The increased offer represents value of more than $3 billion to NRG shareholders.
Exelon, a Chicago-based utility, first issued a bid for NRG in October 2008, which the Princeton-based power generator's board advised shareholders not to accept.
In a statement released Thursd
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