NRG Energy to buy Vivint Smart Home for $2.8 billion

NRG Energy on Tuesday said it's agreed to buy Vivint Smart Home, a Provo, Utah-based home security and automation company, for $2.8 billion.This is a big boomerang for the SPAC market, which on Monday was stung by a pair of large deal terminations .

Vivint was a Blackstone-backed business taken public by a Fortress Investment Group SPAC in 2020, and its exit comes on the same morning as three new SPACNRG will pay $12 per share in cash, representing a 33.5% premium to yesterday's closing price for Vivint shares and a bump to the baseline $10 SPAC price. NRG also will assume $2.4 billion in debt.

Boooo. No mergers! Keep businesses smaller and separate. Enforce antitrust.

NLRG_it congrats on your acquisition

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