NRG Energy has issued an open letter to its shareholders regarding Exelon’s attempt to force a merger between the two companies. The letter argues that Exelon’s offer is not high enough to be fair to NRG’s stockholders and that NRG’s recent deals with Reliant Retail and eSolar have added value to the company. In the letter, NRG also expressed concern about Exelon’s financial standing, including its relative value, financing plan and managing plan.

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