Harbinger reveals NRG bid for Calpine

Princeton, N.J.-based NRG Energy Inc. has offered to buy rival power producer Calpine Corp. for almost $9.6 billion.

Continue reading below

News of the offer was revealed late Wednesday by New York-based Harbinger Capital Partners, Calpine's largest shareholder, as part of a campaign to make Calpine consider the transaction.

After Harbinger's announcement, both Calpine and NRG confirmed that NRG on May 14 made an unsolicited offer at a fixed exchange ratio of 0.534 of an NRG share per Calpine share, worth $23 per share at the time. The exchange ratio equates to a premium of 6.7% on the Thursday $21.28 closing price for Calpine.

Calpine said its board will review the proposal to see if it's in the best interest of shareholders. - Claire Poole

See full story on TheDeal.com

Post a comment

Name:

Email Address:

URL:

Remember personal info?

Comments: (you may use HTML tags for style)

Please only click "Post" once. It may take a few moments to process.

Deal Video

	Inside The Deal: Morgan Stanley's Rosenthal on the nitty gritty details of the Smith Barney integration.
More video...

Elsewhere on The Deal.com

Dealwatch

• Confectioners: Cadbury, Hershey, more
• Airline consolidation, bankruptcy
• AIG Inc.
• AOL

The Deal Magazine

• The kids are all right
• The search for auspiciousness
• Be true to your school
• Waiting to exhale

Corporate Dealmaker

• Deal Economy 2010: Morgan Stanley's Smith Barney integration
• JDA waits out storm for i2 buy
• Deal Economy 2010: Cisco's Hooper on M&A strategy
• GlobalLogic adds seasoned dealmaker

The Deal Video

• Deal Economy 2010: Bove on bank failures, financial reform
• Deal Economy 2010: Weil's Miller on unwinding Lehman Bros.
• Deal Economy 2010: Centerview's Effron on large deals
• Deal Economy 2010: Bove on Goldman's $500M donation

Categories

• Bankruptcy
• Corporate restructuring
• Deal international
• Dealmakers
• Featured
• IPOs
• M&A
• Middle market
• Law & regulation
• Private capital
• Conferences
• Technology

Blog roll

• BloggingBuyouts
• BloggingStocks
• Dealbook
• DealBreaker
• Deal Journal
• FT Alphaville
• footnoted.org
• Going Private
• peHUB
• Reuters Dealzone
• SEC Investor
• Prince Of Wall Street
• Bankruptcy Bill
• Information Arbitrage

Archives

• November 2009
• October 2009
• September 2009
• August 2009
• July 2009
• June 2009
• May 2009
• April 2009
• March 2009
• February 2009
• January 2009
• December 2008
• November 2008
• October 2008
• September 2008
• August 2008
• July 2008
• June 2008
• May 2008
• April 2008
• March 2008
• February 2008
• January 2008
• December 2007
• November 2007
• October 2007
• September 2007
• August 2007
• July 2007
• June 2007
• May 2007
• April 2007
• March 2007
• February 2007
• January 2007
• December 2006
• November 2006
• October 2006
• September 2006
• August 2006
• July 2006
• June 2006
• May 2006
• April 2006
• March 2006
• February 2006
• January 2006
• December 2005