Skadden and Wachtell lead $1.6bn merger between Mirant and RRI

Mirant Corporation and RRI Energy, Inc have announced a $1.6 billion merger deal, combining their companies to create a new company, GenOn Energy. The agreement will see Mirant stockholders receive 2.835 shares of RRI common stock for every share of Mirant common stock they own. GenOn Energy will be the second-largest independent power producer in the US, with 24,700 megawatts of electric generating capacity and a market value of $3.1 billion. Skadden, Arps, Slate, Meagher & Flom is advising long-time client RRI on the deal with a team led by partners Michael Rogan, Frank Bayouth, John Moot, John Lyons, and Jessica Hough. Wachtell, Lipton, Rosen & Katz are representing Mirant with a ream led by corporate partners Daniel Neff and Gregory Ostling. The team also includes partners Joseph Larson, Jeremy Goldstein, Joshua Holmes, Richard Mason, and Eric Rosof.

Skadden and Wachtell lead $1.6bn merger between Mirant and RRI amlawdaily.typepad.com Tue, Apr 13, 2010