Exelon begins proxy fight for NRG

Exelon Corp., the largest U.S. utility owner by market value, Wednesday began its proxy fight and extended an exchange offer to win investor support for a proposed $6.2 billion takeover of NRG Energy Inc. A solicitation asking NRG owners to expand their company's board and elect nine independent nominees was filed Wednesday, and Exelon pushed back the deadline for an offer made directly to stockholders after NRG twice rejected the bid as too low to Aug. 21 from June 26. Wednesday' filing marks the latest step in Exelon's push to create the scale to cope with regulatory changes and fund expansion in transmission and low-carbon generation..