NRG Energy, Edison Mission Energy merger receives FERC approval NRG Energy (NRG) and Edison Mission Energy, a unit of Edison International (EIX), jointly announced that the Federal Energy Regulatory Commission has approved the previously announced sale of substantially all of EME’s assets to NRG. The acquisition of EME’s portfolio of renewable and conventional generation assets will create a power company with enough capacity to support nearly 48M American homes. EME will add nearly 8K megawatts of generating capacity to the combined company’s portfolio of both conventional and wind generation facilities. The FERC approval represents the final regulatory authorizations required to close the transaction and parties expect to close the transaction on April 1.
Edison International price target raised to $72 from $62 at BofA/Merrill BofA/Merrill raised Edison International's price target to $72 following the better-than-expected dividend raise. Shares are Buy rated and on the US 1 List.