Hedge fund titan Paul Singer scores big win after NRG Energy surges 25% in single day [CNBC]
NRG Energy, Inc. (NRG)
Last nrg energy, inc. earnings: 11/7 07:06 am
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Source: CNBC
Activist investor Paul Singer's bid to overhaul power producer NRG Energy paid off handsomely on Wednesday as investors sent the stock price soaring. Shares of NRG surged about 25 percent to about $20.45 after the company announced a transformation plan that, if successful, would reduce its debt load and free up billions of dollars for strategic purchases and shareholder payouts. Singer, the hedge fund titan behind Elliott Management, revealed his stake in NRG in January , along with plans to push for strategic and operational changes aimed at increasing value for shareholders. He partnered with Bluescape Energy, an investment firm chaired by utility industry heavyweight Charles John Wilder Jr., to build a position big enough to lobby for change. Elliott secured a spot for Wilder and former Texas Public Utility Commission chairman Barry T. Smitherman on NRG's board in February, and the two were involved in a four-month review of the company's business. NRG Energy
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NRG
Earnings
- 11/2/23 - Miss
NRG
Sec Filings
- 4/17/24 - Form 8-K
- 4/10/24 - Form DEFA14A
- 4/2/24 - Form 4
- NRG's page on the SEC website