Is this a good thing?

Discussion in 'General Discussion' started by uscitizen, Apr 11, 2010.

  1. uscitizen
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    uscitizen Senior Member

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    Mirant, RRI Energy combining in $1.61B deal


    Apr 11, 6:55 PM (ET)

    By HARRY R. WEBER

    ATLANTA (AP) - Energy providers Mirant Corp. and RRI Energy Inc. said Sunday they are combining in a $1.61 billion stock-swap deal, renaming the company and creating a utility powerhouse that will become one of the nation's largest independent power producers.

    The combined company, which will have a market capitalization of about $3.1 billion, will be called GenOn Energy. It will bring together roughly 24,650 megawatts of electric generating capacity, operations from coast to coast and have total revenue of $4.13 billion, based on full-year 2009 figures.

    GenOn will be led by Mirant Chairman and CEO Edward R. Muller until 2013, when he will retire and the top post will be taken by Mark M. Jacobs, RRI Energy's current president and CEO. Jacobs will serve as GenOn's president, chief operating officer and a director until that time.

    There likely will be job cuts among the two companies' 3,600 employees, but how many has not been decided


    My Way News - Mirant, RRI Energy combining in $1.61B deal
     
  2. JW Frogen
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    JW Frogen Gold Member

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    When companies like this copulate it is like an Arkansas wedding.

    Never a good idea.
     
  3. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Not sure I understand the question.

    Are you at all familiar with how reality works outside of the federal government?
     
  4. uscitizen
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    uscitizen Senior Member

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    Are you implying that there is reality inside of the federal government?
     

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