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comprehensive legal services for businesses call 201-957-0874

New Jersey energy company closer to completing merger

Combining two or more businesses is never a simple process. However, with the right help, a complex merger can run smoothly. With almost every merger, companies must juggle the demands of their business, the desires of the company they are acquiring and state and federal rules and regulations. If any aspect of this complex business transaction is ignored then the deal could fall apart.

One New Jersey company is likely relieved to hear one hurdle has been cleared in its upcoming merger. NRG Energy Inc. announced on July 23 that it intended to merge with GenOn Energy Inc, based in Houston, Texas, for $1.7 billion. The merger is expected to create the United States' largest power-generator company. The company, which will still be called NRG Energy, will have 47,000 megawatts of power from several sources including wind, nuclear, solar and fossil fuels. After the merger is completed the company's commercial and financial headquarters will remain in New Jersey, while its operations headquarters will be in Houston.

However, one condition of the merger was that the federal antitrust waivers had to be granted. Recently, the companies were able to fulfill this condition. On Sept. 21, the Federal Trade Commission and the Department of Justice agreed to early termination for the antitrust review waiting period.

While this was certainly only one of the publically traded merger's conditions, it is a step in the right direction to completing the merger. However, these companies will likely still have a lot of details to work out. Furthermore, like in any merger, those details are likely to continue until well after the merger is completed. In this case, after the merger the workforce will need to be evaluated and layoffs are likely.

Source: Houston Business Journal, "Waiting period terminated for NRG Energy-GenOn merger," Olivia Pulsinelli, Sept. 21, 2012

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