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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (33970)3/28/2009 7:47:29 PM
From: Spekulatius  Read Replies (1) | Respond to of 78702
 
re NRG -
why do you think EXC has no means to follow through? It's a stock deal, and EXC has more than 51% of NRG locked up in tenders.

Debt mostly has a change in control clause so if EXC takes over, they would have to refinance all the NRG debt, even if they pay in stock. Now the weighted debt cost would go from 6.6% to 10%. Also EXC is partly a regulated utility so I expect the regulators to take a sharp look.


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