Exelon files with regulators on hostile NRG bid

NEW YORK (Reuters) - Exelon Corp (EXC.N: Quote, Profile, Research) on Thursday said it has filed with federal regulators for approval of its hostile bid for NRG Energy Inc (NRG.N: Quote, Profile, Research), even though NRG's management has rejected its takeover proposal.

Exelon said it filed an application with the U.S. Federal Energy Regulatory Commission as well as notification with the Justice Department and the Federal Trade Commission.

"The FERC can approve the deal before NRG consents to it," said Paul Elsberg, a spokesman for Exelon. "We believe we've satisfied FERC's requirements."

He said the filing argues that regulators should process the application although the NRG management opposes the deal.

Exelon, the largest nuclear power company in the U.S., made its unsolicited stock offer for independent power producer NRG in October. NRG has said the offer is too low.

If the bid were to succeed, Exelon would have to sell some of its generation assets to mitigate market power concerns.

In its FERC filings, the company singled out the assets it would put on the market if it closed the deal. Exelon said it would sell its three plants in Texas and transfer its power purchase agreements in the state to a third party. The company also said it would sell the Indian River and Dover, Delaware, and Vienna, Maryland, plants currently owned by NRG.

NRG could not immediately be reached for comment.

(Reporting by Michael Erman, editing by Gerald E. McCormick)