Campaign to acquire uninterested NRG Energy Inc. to continue.A recent court ruling has given Exelon Corp. approval to can continue its chase of PrincetonÂs NRG Energy Inc.
The U.S. District Court for the Southern District of New York dismissed on June 22 the remaining allegations raised by NRG (NYSE: NRG) regarding an acquisition proposal from Exelon (NYSE: EXC), in Chicago.
Power generation company NRG filed suit in March demanding utility company Exelon change its public disclosures concerning a tender offer. NRG claimed Exelon did not intend to complete the proposed exchange according to its stated terms. NRGÂs board of directors had rejected the companyÂs takeover bid, and claimed the subsequent tender offer by Exelon to purchase shares was a leverage tactic to force the deal.