Talen EnergyCorp. stockholders have approved the company's proposed mergeragreement with and into an affiliate of Riverstone Holdings LLC.
Under the deal, Riverstone affiliates will acquire 65% of Talencommon stock for $14.00 per share in cash. They already own the other 35% ofTalen. In July, three Riverstone affiliates sought FERC approval of the $5.2 billion transaction toacquire the outstanding interest in Talen Energy.
The transaction remains on track to close by the end of2016, subject to approval from FERC and the U.S. NRC, according to an Oct. 6news release.
Talen, an independent power producer that owns or controls16,000 MW of capacity in eight states, was formed in June 2015 after spun off itscompetitive generation business and combined it with generation assets alreadyowned by Riverstone.