In Elliott's latest activist move, they have partnered with Charles John Wilder Jr., former CEO of TXU (before the mega-buyout led by TPG in '07), to shake up NRG and unlock shareholder value.
Article: CNBC Source. 13D Filing.
Basically, Elliott and Wilder (operating through his PE fund Bluescape Energy) believe NRG is deeply undervalued and are requesting a board seat to create value through operational, financial, and strategic changes. We don't know much more at this point, but hopefully Elliott will post a presentation outlining their strategy soon (as they have done most recently with Marathon Petroleum in November 2016).
Very interesting situation lined up here.
Submitted January 19, 2017 at 06:21PM by Niedermeyer90 http://ift.tt/2jtIbIW
