Reliant plans to review options
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Reliant Energy Inc., the owner of power plants in nine U.S. states, said it would explore strategic alternatives after cutting its profit projections and losing more than half of its market value last week.
Morgan Stanley and Goldman, Sachs & Co. are financial advisors for a review of all options to enhance stockholder value, Houston-based Reliant said. The company didn’t specify the alternatives that would be considered and said it wouldn’t disclose developments until its board approved a course of action.
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