Exelon sues NRG, directors for rejecting $5.71 bil offer

Exelon Corp. sued NRG Energy Inc. over claims its board of directors refused to properly consider a $5.71 billion takeover offer.

The NRG directors have ``unjustifiably'' rejected Chicago- based Exelon's offer to exchange 0.48 shares for each outstanding share of NRG, according to a complaint filed yesterday in Delaware Chancery Court in Wilmington. The court filing, made public today, seeks an order declaring that the NRG board has breached its fiduciary duties. Exelon also said it wants a judge to bar the directors from adopting any measure that would interfere with the acquisition offer.

The case is Exelon Corp. v. Cosgrove et al, CA4155, Delaware Chancery Court (Wilmington).