<div><p>US energy company Exelon has offered to buy its competitor, NRG Energy, for 6.2 billion dollars in a deal which would create a national energy giant worth about 60 billion dollars.</p><p>The offer represents a 37-percent premium on the October 17 closing price for NRG shares.</p><p>In a letter delivered on Sunday to NRG President and chief executive office David Crane and Chairman Howard Cosgrove, Exelon proposed to acquire all of NRG's outstanding common stock in an all-stock transaction.</p><p>The proposed terms were for a fixed exchange ratio of 0.485 Exelon shares for each NRG share, which represents a value of approximately 26.43 dollars for each share.</p><p>"We believe a combination of Exelon and NRG would represent an exceptional value for shareholders of both companies," John Rowe, chairman and CEO of Exelon, said in a statement.</p><p>"This combination would not only diversify Exelon's generation portfolio geographically, it would also create immediate earnings and cash flow accretion."</p><p>He added that an Exelon-NRG combination would result in an enterprise valued at approximately 60 billion dollars with a generating capacity of around 47,000 megawatts, or enough electricity to serve nearly 45 million homes.</p><p>Rowe invited NRG's CEO and board of directors to join him in merger talks in order to create a more efficient company.</p><p>Chicago-based Exelon Corporation is one of the nation's largest electric utilities with nearly $19 billion in annual revenues.</p><p>The company, which has 17,800 employees, has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic, said company officials.</p><p>Exelon distributes electricity to approximately 5.4 million customers in northern Illinois and Pennsylvania and natural gas to 480,000 customers in the Philadelphia area.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=35297749&bid=informcom" /></div><div id="copyright"><div>

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