UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------------------------------------------------------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
RELIANT ENERGY, INC.
--------------------
(Name of Issuer)
Common Stock, par value $0.001 per share
-------------------------------------------------
(Title of Class of Securities)
75952B105
----------------------
(CUSIP Number)
Mark Horowitz
General Counsel
Glenview Capital Management, LLC
399 Park Avenue
New York, New York 10022
(212) 812-4700
----------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 14, 2005
----------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
statement because of ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. [ X ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7 for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Continued on following pages
Page 1 of 15 Pages
Exhibit Index: Page 14
SCHEDULE 13D
CUSIP No.: 75952B105 Page 2 of 15 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL MANAGEMENT, LLC
................................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
................................................................................
3. SEC Use Only
................................................................................
4. Source of Funds (See Instructions)
WC
................................................................................
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
[ ]
................................................................................
6. Citizenship or Place of Organization
Delaware
................................................................................
Number of 7. Sole Voting Power 22,599,229
Shares
Beneficially Owned ...........................................................
Owned by Each
Reporting 8. Shared Voting Power NONE
Person With
...........................................................
9. Sole Dispositive Power 22,599,229
...........................................................
10. Shared Dispositive Power NONE
................................................................................
11. Aggregate Amount Beneficially Owned by Each Reporting Person
22,599,229
................................................................................
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
13. Percent of Class Represented by Amount in Row (11)
7.4% based on 304,657,370 shares outstanding as of October 25, 2005.
................................................................................
14. Type of Reporting Person:
OO
SCHEDULE 13D
CUSIP No.: 75952B105 Page 3 of 15 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL GP, LLC
................................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
................................................................................
3. SEC Use Only
................................................................................
4. Source of Funds (See Instructions)
WC
................................................................................
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
[ ]
................................................................................
6. Citizenship or Place of Organization
Delaware
................................................................................
Number of 7. Sole Voting Power NONE
Shares
Beneficially Owned ...........................................................
Owned by Each
Reporting 8. Shared Voting Power 22,599,229
Person With
...........................................................
9. Sole Dispositive Power NONE
...........................................................
10. Shared Dispositive Power 22,599,229
................................................................................
11. Aggregate Amount Beneficially Owned by Each Reporting Person
22,599,229
................................................................................
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
13. Percent of Class Represented by Amount in Row (11)
7.4% based on 304,657,370 shares outstanding as of October 25, 2005.
................................................................................
14. Type of Reporting Person:
OO
SCHEDULE 13D
CUSIP No.: 75952B105 Page 4 of 15 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
LAWRENCE M. ROBBINS
................................................................................
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [X]
(b) [ ]
................................................................................
3. SEC Use Only
................................................................................
4. Source of Funds (See Instructions)
WC
................................................................................
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
[ ]
................................................................................
6. Citizenship or Place of Organization
Delaware
................................................................................
Number of 7. Sole Voting Power NONE
Shares
Beneficially Owned ...........................................................
Owned by Each
Reporting 8. Shared Voting Power 22,599,229
Person With
...........................................................
9. Sole Dispositive Power NONE
...........................................................
10. Shared Dispositive Power 22,599,229
................................................................................
11. Aggregate Amount Beneficially Owned by Each Reporting Person
22,599,229
................................................................................
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
13. Percent of Class Represented by Amount in Row (11)
7.4% based on 304,657,370 shares outstanding as of October 25, 2005.
................................................................................
14. Type of Reporting Person:
IA
Page 5 of 15 Pages
This Statement on Schedule 13D relates to shares of common stock, par
value $0.001 per share (the "Shares"), of Reliant Energy, Inc., a Delaware
corporation (the "Issuer"). Certain of the Shares reported herein were
previously reported on Schedule 13G, the last amendment of which was filed on
May 2, 2005.
Item 1. Security and Issuer
This Statement relates to the Shares. The address of the principal
executive office of the Issuer is 1000 Main Street, Houston, Texas 77002.
Item 2. Identity and Background
This Statement is filed on behalf of each of the following persons
(collectively, the "Reporting Persons"):
i) Glenview Capital Management, LLC ("Glenview Capital Management");
ii) Glenview Capital GP, LLC ("Glenview Capital GP"); and
iii) Lawrence M. Robbins ("Mr. Robbins").
This Statement relates to the Shares held for the accounts of Glenview
Capital Partners, L.P., a Delaware limited partnership ("Glenview Capital
Partners"), Glenview Institutional Partners, L.P., a Delaware limited
partnership ("Glenview Institutional Partners"), Glenview Capital Master Fund,
Ltd., a Cayman Islands exempted company ("Glenview Capital Master Fund"), GCM
Little Arbor Master Fund, Ltd., a Cayman Islands exempted company ("GCM Little
Arbor Master Fund"), GCM Little Arbor Institutional Partners, L.P., a Delaware
limited partnership ("GCM Little Arbor Institutional Partners"), and GCM Little
Arbor Partners, L.P., a Delaware limited partnership ("GCM Little Arbor
Partners").
The Reporting Persons
Glenview Capital Management is a Delaware limited liability company
and its principal office is located at 399 Park Avenue, Floor 39, New York, New
York 10022. The principal business of Glenview Capital Management is management
of the investment activities of each of Glenview Capital Partners, Glenview
Institutional Partners, Glenview Capital Master Fund, GCM Little Arbor Master
Fund, GCM Little Arbor Institutional Partners and GCM Little Arbor Partners.
Glenview Capital Management serves as investment manager to each of Glenview
Capital Partners, Glenview Institutional Partners, Glenview Capital Master Fund,
GCM Little Arbor Master Fund, GCM Little Arbor Institutional Partners and GCM
Little Arbor Partners. In such capacity, Glenview Capital Management may be
deemed to have voting and dispositive power over the Shares held for the
accounts of each of Glenview Capital Partners, Glenview Institutional Partners,
Glenview Capital Master Fund, GCM Little Arbor Master Fund, GCM Little Arbor
Institutional Partners and GCM Little Arbor Partners. The Chief Executive
Officer of Glenview Capital Management is Lawrence M. Robbins.
Glenview Capital GP is a Delaware limited liability company and its
principal office is located at 399 Park Avenue, Floor 39, New York, New York
10022. The principal business of Glenview Capital GP is to serve as the general
partner of each of Glenview Capital Partners, Glenview Institutional Partners,
Glenview Capital Master Fund, GCM Little Arbor Master Fund, GCM Little Arbor
Institutional Partners and GCM Little Arbor Partners. Glenview Capital GP also
serves as the sponsor of the Glenview Capital Master Fund and the GCM Little
Arbor Master Fund. In such capacities, Glenview Capital GP may be deemed to have
voting and dispositive power over the Shares held for the accounts of each of
Page 6 of 15 Pages
Glenview Capital Partners, Glenview Institutional Partners, Glenview Capital
Master Fund, GCM Little Arbor Master Fund, GCM Little Arbor Institutional
Partners and GCM Little Arbor Partners. The managing member and Chief Executive
Officer of Glenview Capital GP is Lawrence M. Robbins.
The principal occupation of Mr. Robbins, a United States citizen, is
the direction of the activities of Glenview Capital Management and Glenview
Capital GP, which is carried out in his capacity as Chief Executive Officer of
Glenview Capital Management and Glenview Capital GP at Glenview Capital
Management's principal office address.
During the past five years, none of the Reporting Persons and, to the
best of the Reporting Persons' knowledge, no other person identified in response
to this Item 2 has been (a) convicted in a criminal proceeding or (b) a party to
any civil proceeding as a result of which it has been subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws, or finding
any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
The Shares were acquired for the accounts of Glenview Capital
Partners, Glenview Institutional Partners, Glenview Capital Master Fund, GCM
Little Arbor Master Fund, GCM Little Arbor Institutional Partners and GCM Little
Arbor Partners. The source of funds for the purchase transactions was the
working capital of these accounts. The total purchase price for all Shares held
by the accounts managed by Glenview Capital Management is $194,946,225.57.
Neither of Mr. Robbins, Glenview Capital Management nor Glenview Capital GP
directly own any Shares.
The securities held for the accounts of Glenview Capital Partners,
Glenview Institutional Partners, Glenview Capital Master Fund, GCM Little Arbor
Master Fund, GCM Little Arbor Institutional Partners and GCM Little Arbor
Partners may be held through margin accounts maintained with brokers, which
extend margin credit as and when required to open or carry positions in their
margin accounts, subject to applicable federal margin regulations, stock
exchange rules and such firms' credit policies. The positions which may be held
in the margin accounts, including the Shares, are pledged as collateral security
for the repayment of debit balances in the respective accounts.
Item 4. Purpose of Transaction,
The Reporting Persons have acquired the Shares for investment
purposes, and such purchases have been made in the Reporting Persons' ordinary
course of business. Although the acquisition of the Shares is for investment
purposes, the Reporting Persons may pursue discussions with management or
directors of the Issuer regarding alternatives to protect, grow, and ultimately
realize long-term value for shareholders. Furthermore, consistent with its
investment research methods and evaluation criteria, the Reporting Persons may
discuss such matters with other shareholders, industry analysts, existing or
potential strategic partners or competitors, investment and financing
professionals, sources of credit and other investors.
None of the Reporting Persons currently has any plans or proposals
which relate to, or could result in, any of the matters referred to in
subsections (a) through (j) of Item 4 of Schedule 13D.
The Reporting Persons reserve the right to acquire, or cause to be
acquired, additional securities of the Issuer, to dispose of, or cause to be
disposed, such securities at any time or to formulate other purposes, plans or
proposals regarding the Issuer or any of its securities, to the extent deemed
advisable in light of general investment and trading policies of the Reporting
Persons, market conditions
Page 7 of 15 Pages
or other factors. The Reporting Persons may at any time reconsider and change
their plans or proposals relating to the foregoing.
Item 5. Interest in Securities of the Issuer
According to information filed by the Issuer with the Securities and
Exchange Commission in its most recent quarterly report on Form 10-Q, the number
of Shares outstanding was 304,657,370 as of October 25, 2005.
(a) Each of Glenview Capital Management, Glenview Capital GP and Mr.
Robbins may be deemed the beneficial owner of 22,599,229 Shares (approximately
7.4% of the total number of Shares outstanding). This amount consists of (A)
1,647,579 Shares held for the account of Glenview Capital Partners, (B)
12,459,717 Shares held for the account of Glenview Capital Master Fund, (C)
6,625,904 Shares held for the account of Glenview Institutional Partners, (D)
1,451,193 Shares held for the account of GCM Little Arbor Master Fund, (E)
388,630 Shares held for the account of GCM Little Arbor Institutional Partners,
and (F) 26,206 Shares held for the account of GCM Little Arbor Partners.
(b) (i) Glenview Capital Management may be deemed to have sole power
to direct the voting and disposition of the 22,599,229 Shares that they may be
deemed to beneficially own as set forth above.
(ii) Each of Glenview Capital GP and Mr. Robbins may be deemed to
have shared power to direct the voting and disposition of the 22,599,229 Shares
that Glenview Capital Management may be deemed to beneficially own as set forth
above.
(c) The trading dates, number of shares purchased and price per share
(including commissions, if any) for all transactions by the Reporting Persons
during the past 60 days are set forth in Annex A hereto.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to the Securities of the Issuer.
Pursuant to Rule 13d-1(k) promulgated under the Exchange Act, the
Reporting Persons have entered into a Joint Filing Agreement attached hereto as
Exhibit A, with respect to the joint filing of this Schedule 13D and any
amendment or amendments thereto.
From time to time, each of the Reporting Persons may lend portfolio
securities to brokers, banks or other financial institutions. These loans
typically obligate the borrower to return the securities, or an equal amount of
securities of the same class, to the lender and typically provide that the
borrower is entitled to exercise voting rights and to retain dividends during
the term of the loan.
Page 8 of 15 Pages
Item 7. Material to be filed as Exhibits.
The Exhibit Index is incorporated herein by reference.
Page 9 of 15 Pages
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Date: December 14, 2005 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: December 14, 2005 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: December 14, 2005 LAWRENCE M. ROBBINS
/s/ Lawrence M. Robbins
-------------------------------------
Page 10 of 15 Pages
ANNEX A
RECENT TRANSACTIONS IN THE SECURITIES OF
RELIANT ENERGY, INC.
A. Transactions for the account of Glenview Capital Master Fund, Ltd. in the
past 60 days.
--------------------------------------------------------------------------------
Date of Nature of Number of Price per
Transaction Transaction Shares Share
--------------------------------------------------------------------------------
10/25/05 SALE 13,400 $12.75
--------------------------------------------------------------------------------
10/25/05 SALE 300 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 134,100 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 53,700 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 13,400 $12.70
--------------------------------------------------------------------------------
11/01/05 PURCHASE 532,000 $9.498
--------------------------------------------------------------------------------
11/01/05 PURCHASE 60,000 $9.50
--------------------------------------------------------------------------------
11/03/05 PURCHASE 2,500 $9.845
--------------------------------------------------------------------------------
11/03/05 PURCHASE 15,300 $9.998
--------------------------------------------------------------------------------
11/03/05 PURCHASE 317,700 $10.004
--------------------------------------------------------------------------------
11/03/05 PURCHASE 45,000 $10.229
--------------------------------------------------------------------------------
11/03/05 PURCHASE 42,000 $10.222
--------------------------------------------------------------------------------
11/08/05 PURCHASE 8,600 $9.77
--------------------------------------------------------------------------------
11/08/05 PURCHASE 17,600 $9.732
--------------------------------------------------------------------------------
11/08/05 PURCHASE 150,100 $9.75
--------------------------------------------------------------------------------
11/18/05 PURCHASE 150,700 $9.001
--------------------------------------------------------------------------------
11/18/05 PURCHASE 150,100 $9.079
--------------------------------------------------------------------------------
11/18/05 PURCHASE 285,300 $9.192
--------------------------------------------------------------------------------
11/18/05 PURCHASE 60,000 $9.20
--------------------------------------------------------------------------------
11/18/05 PURCHASE 74,200 $9.24
--------------------------------------------------------------------------------
11/18/05 PURCHASE 30,000 $9.241
--------------------------------------------------------------------------------
11/18/05 PURCHASE 300 $9.135
--------------------------------------------------------------------------------
11/21/05 PURCHASE 242,900 $9.146
--------------------------------------------------------------------------------
11/28/05 PURCHASE 105,600 $9.815
--------------------------------------------------------------------------------
11/28/05 PURCHASE 235,200 $9.852
--------------------------------------------------------------------------------
11/28/05 PURCHASE 100 $9.845
--------------------------------------------------------------------------------
11/29/05 PURCHASE 157,300 $9.841
--------------------------------------------------------------------------------
11/29/05 PURCHASE 45,200 $9.85
--------------------------------------------------------------------------------
11/29/05 PURCHASE 180,800 $9.875
--------------------------------------------------------------------------------
11/29/05 PURCHASE 67,800 $9.873
--------------------------------------------------------------------------------
11/30/05 PURCHASE 82,100 $9.370
--------------------------------------------------------------------------------
11/30/05 PURCHASE 698,800 $9.346
--------------------------------------------------------------------------------
12/07/05 PURCHASE 452,100 $9.633
--------------------------------------------------------------------------------
12/07/05 PURCHASE 9,400 $9.659
--------------------------------------------------------------------------------
12/09/05 PURCHASE 45,200 $9.90
--------------------------------------------------------------------------------
12/09/05 PURCHASE 100 $9.895
--------------------------------------------------------------------------------
12/09/05 PURCHASE 256,200 $9.988
--------------------------------------------------------------------------------
12/13/05 PURCHASE 5,600 $10.018
--------------------------------------------------------------------------------
Page 11 of 15 Pages
B. Transactions for the account of Glenview Institutional Partners, L.P. in the
past 60 days.
--------------------------------------------------------------------------------
Date of Nature of Number of Price per
Transaction Transaction Shares Share
--------------------------------------------------------------------------------
10/25/05 SALE 7,100 $12.75
--------------------------------------------------------------------------------
10/25/05 SALE 100 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 70,700 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 28,300 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 7,100 $12.70
--------------------------------------------------------------------------------
11/01/05 PURCHASE 283,400 $9.498
--------------------------------------------------------------------------------
11/01/05 PURCHASE 32,000 $9.50
--------------------------------------------------------------------------------
11/03/05 PURCHASE 1,300 $9.845
--------------------------------------------------------------------------------
11/03/05 PURCHASE 8,100 $9.998
--------------------------------------------------------------------------------
11/03/05 PURCHASE 169,200 $10.004
--------------------------------------------------------------------------------
11/03/05 PURCHASE 24,000 $10.229
--------------------------------------------------------------------------------
11/03/05 PURCHASE 22,400 $10.222
--------------------------------------------------------------------------------
11/08/05 PURCHASE 4,500 $9.77
--------------------------------------------------------------------------------
11/08/05 PURCHASE 9,400 $9.732
--------------------------------------------------------------------------------
11/08/05 PURCHASE 80,000 $9.75
--------------------------------------------------------------------------------
11/18/05 PURCHASE 80,300 $9.001
--------------------------------------------------------------------------------
11/18/05 PURCHASE 80,000 $9.079
--------------------------------------------------------------------------------
11/18/05 PURCHASE 151,900 $9.192
--------------------------------------------------------------------------------
11/18/05 PURCHASE 32,000 $9.20
--------------------------------------------------------------------------------
11/18/05 PURCHASE 39,500 $9.24
--------------------------------------------------------------------------------
11/18/05 PURCHASE 16,000 $9.241
--------------------------------------------------------------------------------
11/18/05 PURCHASE 200 $9.135
--------------------------------------------------------------------------------
11/21/05 PURCHASE 129,300 $9.146
--------------------------------------------------------------------------------
11/28/05 PURCHASE 60,300 $9.815
--------------------------------------------------------------------------------
11/28/05 PURCHASE 134,300 $9.852
--------------------------------------------------------------------------------
11/29/05 PURCHASE 91,500 $9.841
--------------------------------------------------------------------------------
11/29/05 PURCHASE 26,300 $9.85
--------------------------------------------------------------------------------
11/29/05 PURCHASE 105,100 $9.875
--------------------------------------------------------------------------------
11/29/05 PURCHASE 39,500 $9.873
--------------------------------------------------------------------------------
11/30/05 PURCHASE 43,700 $9.370
--------------------------------------------------------------------------------
11/30/05 PURCHASE 372,000 $9.346
--------------------------------------------------------------------------------
12/07/05 PURCHASE 238,700 $9.633
--------------------------------------------------------------------------------
12/07/05 PURCHASE 5,000 $9.659
--------------------------------------------------------------------------------
12/09/05 PURCHASE 23,900 $9.90
--------------------------------------------------------------------------------
12/09/05 PURCHASE 135,200 $9.988
--------------------------------------------------------------------------------
12/13/05 PURCHASE 3,000 $10.018
--------------------------------------------------------------------------------
Page 12 of 15 Pages
C. Transactions for the account of Glenview Capital Partners, L.P. in the past
60 days.
--------------------------------------------------------------------------------
Date of Nature of Number of Price per
Transaction Transaction Shares Share
--------------------------------------------------------------------------------
10/25/05 SALE 1,800 $12.75
--------------------------------------------------------------------------------
10/25/05 SALE 17,900 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 7,100 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 1,800 $12.70
--------------------------------------------------------------------------------
11/01/05 PURCHASE 70,700 $9.498
--------------------------------------------------------------------------------
11/01/05 PURCHASE 8,000 $9.50
--------------------------------------------------------------------------------
11/03/05 PURCHASE 300 $9.845
--------------------------------------------------------------------------------
11/03/05 PURCHASE 2,000 $9.998
--------------------------------------------------------------------------------
11/03/05 PURCHASE 42,100 $10.004
--------------------------------------------------------------------------------
11/03/05 PURCHASE 6,000 $10.229
--------------------------------------------------------------------------------
11/03/05 PURCHASE 5,600 $10.222
--------------------------------------------------------------------------------
11/08/05 PURCHASE 1,100 $9.77
--------------------------------------------------------------------------------
11/08/05 PURCHASE 2,300 $9.732
--------------------------------------------------------------------------------
11/08/05 PURCHASE 19,900 $9.75
--------------------------------------------------------------------------------
11/18/05 PURCHASE 20,000 $9.001
--------------------------------------------------------------------------------
11/18/05 PURCHASE 19,900 $9.079
--------------------------------------------------------------------------------
11/18/05 PURCHASE 37,800 $9.192
--------------------------------------------------------------------------------
11/18/05 PURCHASE 8,000 $9.20
--------------------------------------------------------------------------------
11/18/05 PURCHASE 9,800 $9.24
--------------------------------------------------------------------------------
11/18/05 PURCHASE 4,000 $9.241
--------------------------------------------------------------------------------
11/21/05 PURCHASE 32,200 $9.146
--------------------------------------------------------------------------------
11/28/05 PURCHASE 13,300 $9.815
--------------------------------------------------------------------------------
11/28/05 PURCHASE 29,700 $9.852
--------------------------------------------------------------------------------
11/29/05 PURCHASE 19,700 $9.841
--------------------------------------------------------------------------------
11/29/05 PURCHASE 5,700 $9.85
--------------------------------------------------------------------------------
11/29/05 PURCHASE 22,600 $9.875
--------------------------------------------------------------------------------
11/29/05 PURCHASE 8,400 $9.873
--------------------------------------------------------------------------------
11/30/05 PURCHASE 10,900 $9.370
--------------------------------------------------------------------------------
11/30/05 PURCHASE 92,500 $9.346
--------------------------------------------------------------------------------
12/07/05 PURCHASE 59,200 $9.633
--------------------------------------------------------------------------------
12/07/05 PURCHASE 1,200 $9.659
--------------------------------------------------------------------------------
12/09/05 PURCHASE 5,900 $9.90
--------------------------------------------------------------------------------
12/09/05 PURCHASE 33,600 $9.988
--------------------------------------------------------------------------------
12/13/05 PURCHASE 700 $10.018
--------------------------------------------------------------------------------
Page 13 of 15 Pages
D. Transactions for the account of GCM Little Arbor Partners, L.P. in the past
60 days.
--------------------------------------------------------------------------------
Date of Nature of Number of Price per
Transaction Transaction Shares Share
--------------------------------------------------------------------------------
10/25/05 SALE 400 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 200 $12.70
--------------------------------------------------------------------------------
10/31/05 SALE 542 $12.70
--------------------------------------------------------------------------------
11/28/05 PURCHASE 700 $9.815
--------------------------------------------------------------------------------
11/28/05 PURCHASE 1,500 $9.852
--------------------------------------------------------------------------------
11/29/05 PURCHASE 1,200 $9.841
--------------------------------------------------------------------------------
11/29/05 PURCHASE 300 $9.85
--------------------------------------------------------------------------------
11/29/05 PURCHASE 1,300 $9.875
--------------------------------------------------------------------------------
11/29/05 PURCHASE 500 $9.873
--------------------------------------------------------------------------------
11/30/05 SALE 560 $9.26
--------------------------------------------------------------------------------
E. Transactions for the account of GCM Little Arbor Master Fund, Ltd. in the
past 60 days.
--------------------------------------------------------------------------------
Date of Nature of Number of Price per
Transaction Transaction Shares Share
--------------------------------------------------------------------------------
10/25/05 SALE 2,100 $12.75
--------------------------------------------------------------------------------
10/25/05 SALE 21,100 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 8,400 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 2,100 $12.70
--------------------------------------------------------------------------------
10/31/05 PURCHASE 6,599 $12.70
--------------------------------------------------------------------------------
11/28/05 PURCHASE 35,100 $9.815
--------------------------------------------------------------------------------
11/28/05 PURCHASE 78,100 $9.852
--------------------------------------------------------------------------------
11/29/05 PURCHASE 61,700 $9.841
--------------------------------------------------------------------------------
11/29/05 PURCHASE 17,700 $9.850
--------------------------------------------------------------------------------
11/29/05 PURCHASE 70,900 $9.875
--------------------------------------------------------------------------------
11/29/05 PURCHASE 26,600 $9.873
--------------------------------------------------------------------------------
11/30/05 PURCHASE 3,110 $9.26
--------------------------------------------------------------------------------
F. Transactions for the account of GCM Little Arbor Institutional Partners, L.P.
in the past 60 days.
--------------------------------------------------------------------------------
Date of Nature of Number of Price per
Transaction Transaction Shares Share
--------------------------------------------------------------------------------
10/25/05 SALE 600 $12.75
--------------------------------------------------------------------------------
10/25/05 SALE 5,800 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 2,300 $12.70
--------------------------------------------------------------------------------
10/25/05 SALE 600 $12.70
--------------------------------------------------------------------------------
10/31/05 SALE 6,057 $12.70
--------------------------------------------------------------------------------
11/28/05 PURCHASE 9,500 $9.815
--------------------------------------------------------------------------------
11/28/05 PURCHASE 21,200 $9.852
--------------------------------------------------------------------------------
11/29/05 PURCHASE 16,800 $9.841
--------------------------------------------------------------------------------
11/29/05 PURCHASE 4,800 $9.85
--------------------------------------------------------------------------------
11/29/05 PURCHASE 19,300 $9.875
--------------------------------------------------------------------------------
11/29/05 PURCHASE 7,200 $9.873
--------------------------------------------------------------------------------
11/30/05 SALE 2,550 $9.26
--------------------------------------------------------------------------------
Page 14 of 15 Pages
EXHIBIT INDEX
Ex. Page No.
--- --------
A. Joint Filing Agreement, dated December 14, 2005 by and among
Glenview Capital Management, LLC, Glenview Capital GP, LLC
and Lawrence M. Robbins..................................... 15
Page 15 of 15 Pages
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13D with
respect to the Common Stock of Reliant Energy, Inc. dated as of December 14,
2005 is, and any amendments thereto (including amendments on Schedule 13G)
signed by each of the undersigned shall be, filed on behalf of each of us
pursuant to and in accordance with the provisions of Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended.
Date: December 14, 2005 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: December 14, 2005 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
---------------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: December 14, 2005 LAWRENCE M. ROBBINS
/s/ Lawrence M. Robbins
-------------------------------------