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Calpine Rejects NRG Takeover Bid
By Jennifer YousfiManaging Editor A merger that would have united the two largest U.S. independent power producers has hit a roadblock. Calpine Corp. (CPN) has rejected NRG Energy Inc.'s (NRG) initial offer, saying the 0.534 shares for each share of Calpine's approximately 500 million shares outstanding is inadequate. Story continues below… "I don't think anyone […]
NRG Looks to Electrify its Business with $11.3 Billion Calpine Takover
By Jason SimpkinsAssociate Editor Princeton, NJ- based NRG Energy Inc. (NRG) has publicly acknowledged its estimated $11.3 billion takeover bid for Calpine Corp. (CPN) – a wholesale provider of electricity emerging from chapter 11 bankruptcy protection. NRG acknowledged Wednesday that it made the initial $22.98 a share offer on May 14. NRG said the deal […]