N too deep

I’m not surprised we’re back here talking about Vivint again, if anything I think I’m feeling a bit justified with my earlier assessment of the situation, at least where optics are concerned.

I talked about it a bit in a previous blog post. To say I was uncharitable would gild the lily, so I'll just say I was honest about my views of the potential sale. Truthfully, I thought the deal wasn’t going to happen at all considering the various lawsuits and implied liability on hand if NRG Energy were to acquire Vivint. Instead, only days later they did it anyway.

I was flabbergasted. I thought either I simply had no grasp on the politics and potential involved in the sale, or the universe was gaslighting me. This week, however, I am vindicated. I might have guessed when their stock tanked immediately following the original acquisition announcement back in December, but the stock market is a nonsensical rollercoaster ride indicative of nothing.

Instead, its investor Elliott Management, who’s taking a swing at NRG by issuing the modern-day equivalent of a white glove to the face - “…the single worst deal in the power and utilities sector in the past decade" - is the kind of statement one makes when they’re ready to throw hands. For their part NRG doesn't seem to be sweating it much, but on June 22 NRG Energy is holding its 2023 investor day, so I'm anticipating that sparks will fly.

Or they would, but I’m going to be out of the office that day! I’ll probably watch the presentation anyway, because I don’t think I could stand to miss what might be some lively debate at worst, and a highlight at best.

Somebody call Pay-Per-View to sell tickets. That’s still a thing, right?