Jan. 17 — Elliott Management and private equity firm Bluescape Energy Partners have teamed up to buy a 9.4 percent stake in NRG Energy and said they may push to elect one or more directors to its board.

Elliott and Bluescape, which was founded by ex-TXU Corp. CEO John Wilder, said in a filing that NRG’s shares were “deeply undervalued.” The investors are seeking operational and financial improvements as well as the consideration of strategic initiatives at the company.

— Reuters