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Asset Sales and Restructuring in the Cards at NRG Energy After Elliott Deal

Elliott Management's Paul Singer

Asset sales, a restructuring and even a possible sale of the business may be in the cards for NRG Energy (NRG) after activist investor Elliott Management's Paul Singer and a private equity partner on Monday reached a settlement with the Houston-based company to add two dissident directors to its board.

Specifically, NRG Energy agreed to add C. John Wilder, the executive chairman of Dallas-based PE firm Bluescape Partners, Elliott Management's partner in the NRG Energy campaign, as well as Barry Smitherman, a former top regulator and investment banker in Texas. The deal will also...


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