UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 1)*

MIRANT CORPORATION

(Name of Issuer)

Common Stock, $0.01 Par Value Per Share

(Title of Class of Securities)

60467R100
(CUSIP Number)

December 31, 2007
(Date of Event which Requires Filing
of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)

*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 on 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).

Page 1 of 10

------------------------------ ------------------
CUSIP No. 60467R100 13G Page 2 of 10 Pages
------------------------------ ------------------

---------- ---------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 S.A.C. Capital Advisors, LLC
---------- ---------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
---------- ---------------------------------------------------------------------
 3 SEC USE ONLY
---------- ---------------------------------------------------------------------
 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 Delaware
--------------------- ----- ----------------------------------------------------
 5 SOLE VOTING POWER

 0
 ----- ----------------------------------------------------
 6 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 64,100 (see Item 4)
BY EACH REPORTING ----- ----------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER

 0
 ----- ----------------------------------------------------
 8 SHARED DISPOSITIVE POWER

 64,100 (see Item 4)
---------- ---------------------------------------------------------------------
 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 64,100 (see Item 4)
---------- ---------------------------------------------------------------------
 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 [ ]
---------- ---------------------------------------------------------------------
 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 Less than 0.1% (see Item 4)
---------- ---------------------------------------------------------------------
 12 TYPE OF REPORTING PERSON*

 00
---------- ---------------------------------------------------------------------
 *SEE INSTRUCTION BEFORE FILLING OUT

 Page 2 of 10


------------------------------ ------------------
CUSIP No. 60467R100 13G Page 3 of 10 Pages
------------------------------ ------------------

---------- ---------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 S.A.C. Capital Management, LLC
---------- ---------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
---------- ---------------------------------------------------------------------
 3 SEC USE ONLY
---------- ---------------------------------------------------------------------
 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 Delaware
--------------------- ----- ----------------------------------------------------
 5 SOLE VOTING POWER

 0
 ----- ----------------------------------------------------
 6 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 64,100 (see Item 4)
BY EACH REPORTING ----- ----------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER

 0
 ----- ----------------------------------------------------
 8 SHARED DISPOSITIVE POWER

 64,100 (see Item 4)
---------- ---------------------------------------------------------------------
 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 64,100 (see Item 4)
---------- ---------------------------------------------------------------------
 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 [ ]
---------- ---------------------------------------------------------------------
 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 Less than 0.1% (see Item 4)
---------- ---------------------------------------------------------------------
 12 TYPE OF REPORTING PERSON*

 00
---------- ---------------------------------------------------------------------
 *SEE INSTRUCTION BEFORE FILLING OUT

 Page 3 of 10


------------------------------ ------------------
CUSIP No. 60467R100 13G Page 4 of 10 Pages
------------------------------ ------------------

---------- ---------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 CR Intrinsic Investors, LLC
---------- ---------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
---------- ---------------------------------------------------------------------
 3 SEC USE ONLY
---------- ---------------------------------------------------------------------
 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 Delaware
--------------------- ----- ----------------------------------------------------
 5 SOLE VOTING POWER

 0
 ----- ----------------------------------------------------
 6 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 5,486,818 (see Item 4)
BY EACH REPORTING ----- ----------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER

 0
 ----- ----------------------------------------------------
 8 SHARED DISPOSITIVE POWER

 5,486,818 (see Item 4)
---------- ---------------------------------------------------------------------
 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 5,486,818 (see Item 4)
---------- ---------------------------------------------------------------------
 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 [ ]
---------- ---------------------------------------------------------------------
 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 2.1% (see Item 4)
---------- ---------------------------------------------------------------------
 12 TYPE OF REPORTING PERSON*

 00
---------- ---------------------------------------------------------------------
 *SEE INSTRUCTION BEFORE FILLING OUT

 Page 4 of 10


------------------------------ ------------------
CUSIP No. 60467R100 13G Page 5 of 10 Pages
------------------------------ ------------------

---------- ---------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 Steven A. Cohen
---------- ---------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
---------- ---------------------------------------------------------------------
 3 SEC USE ONLY
---------- ---------------------------------------------------------------------
 4 CITIZENSHIP OR PLACE OF ORGANIZATION

 United States
--------------------- ----- ----------------------------------------------------
 5 SOLE VOTING POWER

 0
 ----- ----------------------------------------------------
 6 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 5,550,918 (see Item 4)
BY EACH REPORTING ----- ----------------------------------------------------
PERSON WITH 7 SOLE DISPOSITIVE POWER

 0
 ----- ----------------------------------------------------
 8 SHARED DISPOSITIVE POWER

 5,550,918 (see Item 4)
---------- ---------------------------------------------------------------------
 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 5,550,918 (see Item 4)
---------- ---------------------------------------------------------------------
 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 [ ]
---------- ---------------------------------------------------------------------
 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 2.2% (see Item 4)
---------- ---------------------------------------------------------------------
 12 TYPE OF REPORTING PERSON*

 IN
---------- ---------------------------------------------------------------------
 *SEE INSTRUCTION BEFORE FILLING OUT

 Page 5 of 10


Item 1(a) Name of Issuer:

Mirant Corporation

Item 1(b) Address of Issuer's Principal Executive Offices:

1155 Perimeter Center West, Suite 100, Atlanta, Georgia 30338

Items 2(a) Name of Person Filing:

This statement is filed by: (i) S.A.C. Capital Advisors, LLC ("SAC Capital Advisors") with respect to shares of common stock, $0.01 par value per share ("Shares"), of the Issuer beneficially owned by S.A.C. Capital Associates, LLC ("SAC Capital Associates"); (ii) S.A.C. Capital Management, LLC ("SAC Capital Management") with respect to Shares beneficially owned by SAC Capital Associates; (iii) CR Intrinsic Investors, LLC ("CR Intrinsic Investors") with respect to Shares beneficially owned by CR Intrinsic Investments, LLC ("CR Intrinsic Investments"); and (iv) Steven A. Cohen with respect to Shares beneficially owned by SAC Capital Advisors, SAC Capital Management, SAC Capital Associates, CR Intrinsic Investors and CR Intrinsic Investments.

Item 2(b) Address of Principal Business Office:

The address of the principal business office of (i) SAC Capital Advisors, CR Intrinsic Investors and Mr. Cohen is 72 Cummings Point Road, Stamford, Connecticut 06902 and (ii) SAC Capital Management is 540 Madison Avenue, New York, New York 10022.

Item 2(c) Citizenship:

SAC Capital Advisors, SAC Capital Management and CR Intrinsic Investors are Delaware limited liability companies. Mr. Cohen is a United States citizen.

Item 2(d) Title of Class of Securities:

Common Stock, $0.01 par value per share

Item 2(e) CUSIP Number:

60467R100

Item 3 Not Applicable

Page 6 of 10

Item 4 Ownership:

The percentages used herein are calculated based upon the Shares issued and outstanding as of October 31, 2007 as reported on the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission for the quarterly period ended September 30, 2007.

As of the close of business on December 31, 2007:

1. S.A.C. Capital Advisors, LLC
(a) Amount beneficially owned: 64,100
(b) Percent of class: Less than 0.1%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 64,100
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:


64,100

2. S.A.C. Capital Management, LLC
(a) Amount beneficially owned: 64,100
(b) Percent of class: Less than 0.1%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 64,100
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:


64,100

3. CR Intrinsic Investors, LLC
(a) Amount beneficially owned: 5,486,818
(b) Percent of class: 2.1%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 5,486,818
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:


5,486,818

4. Steven A. Cohen
(a) Amoun tbeneficially owned: 5,550,918
(b) Percent of class: 2.2%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 5,550,918
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:


5,550,918

Page 7 of 10

SAC Capital Advisors, SAC Capital Management, CR Intrinsic Investors and Mr. Cohen do not directly own any Shares. Pursuant to investment management agreements, each of SAC Capital Advisors and SAC Capital Management share all investment and voting power with respect to the securities held by SAC Capital Associates. Pursuant to an investment management agreement, CR Intrinsic Investors maintains investment and voting power with respect to the securities held by CR Intrinsic Investments. Mr. Cohen controls each of SAC Capital Advisors, SAC Capital Management and CR Intrinsic Investors. CR Intrinsic Investments is a wholly owned subsidiary of SAC Capital Associates. By reason of the provisions of Rule 13d-3 of the Securities Exchange Act of 1934, as amended, each of (i) SAC Capital Advisors, SAC Capital Management and Mr. Cohen may be deemed to own beneficially 64,100 Shares (representing less than 0.1% of the Shares outstanding) and (ii) CR Intrinsic Investors and Mr. Cohen may be deemed to own beneficially 5,486,818 Shares (representing approximately 2.1% of the Shares outstanding). Each of SAC Capital Advisors, SAC Capital Management, CR Intrinsic Investors and Mr. Cohen disclaim beneficial ownership of any of the securities covered by this statement, and SAC Capital Associates disclaims beneficial ownership of any securities held by CR Intrinsic Investments.

Item 5 Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following. [X]

Item 6 Ownership of More than Five Percent on Behalf of Another
 ` --------------------------------------------------------
 Person:
 ------

 Not Applicable

Item 7 Identification and Classification of the
 ----------------------------------------
 Subsidiary Which Acquired the Security Being
 --------------------------------------------
 Reported on By the Parent Holding Company:
 ------------------------------------------

 Not Applicable

Item 8 Identification and Classification of Members
 --------------------------------------------
 of the Group:
 -------------

 Not Applicable

 Page 8 of 10

Item 9 Notice of Dissolution of Group:
 ------------------------------

 Not Applicable

Item 10 Certification:
 -------------

 By signing below the signatory certifies that, to the best of his

knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

Page 9 of 10

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 14, 2008

S.A.C. CAPITAL ADVISORS, LLC

By: /s/ Peter Nussbaum
 ----------------------------
Name: Peter Nussbaum
Title: Authorized Person

S.A.C. CAPITAL MANAGEMENT, LLC

By: /s/ Peter Nussbaum
 ----------------------------
Name: Peter Nussbaum
Title: Authorized Person

CR INTRINSIC INVESTORS, LLC

By: /s/ Peter Nussbaum
 ----------------------------
Name: Peter Nussbaum
Title: Authorized Person

STEVEN A. COHEN

By: /s/ Peter Nussbaum
 ----------------------------
Name: Peter Nussbaum
Title: Authorized Person

Page 10 of 10
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