Thursday, June 01, 2006

Mirant Sues NRG

Philadelphia Inquirer:
Power company Mirant Corp. yesterday sued rival energy producer NRG Energy Inc., contending that NRG was unfairly rejecting its nearly $8 billion takeover bid.

Atlanta-based Mirant sought a court order in Delaware directing NRG not to obstruct its attempts to acquire NRG. Mirant asserted that NRG is using a "transaction ploy" to turn aside the offer by contending that Mirant is using confidential information from NRG's former financial adviser.