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BRIEF-NRG Energy announces cooperation agreement
February 13, 2017 / 1:20 PM / 10 months ago

BRIEF-NRG Energy announces cooperation agreement

Feb 13 (Reuters) - NRG Energy Inc :

* NRG Energy announces cooperation agreement with Elliott Management and Bluescape Energy Partners

* Says funds affiliated with Elliott have economic exposure to an aggregate of approximately 6.9% of co’s common stock

* NRG Energy - funds affiliated with Bluescape beneficially own an aggregate of 2.5% of company’s common stock

* NRG Energy Inc - Howard Cosgrove and Edward R. Muller have announced their retirement from NRG board of directors

* NRG Energy Inc - Lawrence Coben, a director of company, was named chairman of board as Cosgrove’s successor

* Says in addition, NRG has formed a five-person ad hoc committee of board - business review committee

* NRG Energy Inc - C. John Wilder and Barry Smitherman have been appointed to board

* NRG Energy Inc - committee will be chaired by Wilder

* NRG Energy Inc - pursuant to cooperation agreements, Elliott and Bluescape have each agreed to customary standstill, voting, and other provisions

* NRG Energy - committee will work closely with co to comprehensively review and make specific recommendations to board in four key areas

* NRG Energy says key areas include operational and cost excellence initiatives, potential portfolio and/or asset de-consolidations, dispositions and broader strategic initiatives

* NRG Energy Inc - Morgan Stanley & Co. Llc and Goldman Sachs And Co. are serving as financial advisors to company Source text for Eikon: Further company coverage:

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