Exelon Extends Deadline in NRG Bid

Updated from 2:41 p.m.

Exelon will extend the deadline to Feb. 25 in its hostile bid for NRG Energy(NRG Quote) after NRG shareholders tendered 45.6% of the outstanding shares.

NRG management urged its shareholders to reject the overture.

"The current Exelon offer is highly conditional and significantly undervalues NRG," the Princeton, N.J.-based firm said in the statement. "As always, we remain open to being a buyer or a seller at an appropriate value that compensates for the value and risk of the transaction." ...