(Bloomberg) -- NRG Energy Inc. rose the most in almost nine years on news that it will sell off as much as $4 billion in assets, including potentially all of its renewable energy business. The company has been under pressure from Elliott Management Corp., its fourth-largest shareholder, to cut costs. The share climb Wednesday increases the value of Elliott's stake in NRG to about $352 million, for a gain of $57.6 million in a day.
To contact the reporter on this story: Tina Davis in New York at tinadavis@bloomberg.net.
To contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Christine Buurma, Jim Efstathiou Jr.
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