NRG Energy Inc. and GenOn Energy Inc. have received approval to merge from the Public Utility Commission of Texas (PUCT).
Approval of the merger by the PUCT satisfies a condition to the closing of the transaction, the companies note. As specified in the merger agreement, the transaction remains subject to the satisfaction or waiver of other closing conditions. These conditions include state regulatory approval in New York, approval by the Federal Energy Regulatory Commission, approval by the shareholders of both NRG and GenOn at special meetings of both companies, and the threshold determination by the Nuclear Regulatory Commission that its approval is not required.
The transaction is expected to close by the first quarter of 2013.