Monday Market Movers

GenOn Energy traded up on Monday after announcing a definitive agreement to merge with NRG Energy

. The combination of the two companies will create the largest competitive energy provider in the United States. NRG Energy announced that it would buy GenOn Energy in an all-stock deal that is worth about $1.7 billion. The offer represents an 18% premium for GenOn Energy shareholders. GenOn Chairman and CEO, Edward R. Muller, stated, “This combination will deliver immediate value to the shareholders of both companies who will benefit from the combined company's merger synergies, balance sheet efficiencies, increased scale and additional geographic diversity. NRG and GenOn are a great fit geographically and operationally and we look forward to working together to capture efficiencies from the scale associated with the transaction to deliver enhanced value to our investors.” GenOn Energy traded up about 26% on Monday.

Lucas Energy announced on Monday that it performed an internal review of its Eagle Ford property oil and gas potential with an independent engineering firm. The results showed that the oil property holding's exceed the 3.7 billion proven barrels determined by the company's own engineers. The company estimates that there are 14.7 billion barrels, which represents a present value of more than $275 million in potential profit from this property. William A. Sawyer, President and Chief Executive Officer of the Company said, "Lucas is steadfast in moving its Eagle Ford sale forward. It is still our belief that the cash value of the properties is more beneficial to the Company and to overall shareholder value, than the undeveloped potential of the properties, whether proven or not." Lucas Energy traded up about 17% on Monday.

On Monday, GeoEye announced that it has agreed to merge with DigitalGlobe

. Under the agreement, the companies will combine in a stock and cash transaction worth $900 million. The combined company will be called DigitalGlobe, and the board of directors will include six members from the DigitalGlobe's current board and four members from the GeoEye's current board. GeoEye traded up about 25% on Monday.