Energy News / Shareholders Foundation, Inc.

Calpine Corporation (NYSE:CPN) Shareholder Alert: Investigation of Takeover

Via: ReleaseWire

Updated 11:00 AM CDT, Tue, August 22,2017

An investigation on behalf of investors of Calpine Corporation (NYSE:CPN) in connection with the proposed takeover was announced and NYSE:CPN stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 08/22/2017 -- An investigation was announced for investors, who currently hold NYSE:CPN shares, concerning whether the takeover of Calpine Corporation for $15.25 per share is unfair to NYSE:CPN stockholders.

Investors who purchased shares of Calpine Corporation (NYSE:CPN) and currently hold any of those NYSE:CPN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The investigation by a law firm concerns whether certain officers and directors of Calpine Corporation breached their fiduciary duties owed to NYSE:CPN investors in connection with the proposed acquisition.

On August 18, 2017, Calpine Corporation (NYSE:CPN) announced that it has entered into a an agreement under which Energy Capital Partners (Energy Capital or ECP) along with a consortium of investors led by Access Industries and Canada Pension Plan Investment Board will acquire Calpine for $15.25 per share in cash, or $5.6 billion.

However, given that at least one analyst has set the high price target at $20.00 per share, the investigation concerns whether the offer is unfair to Calpine Corporation (NYSE:CPN stockholders. More specifically, the investigation concerns whether the Calpine Corporation (NYSE:CPN Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Calpine Corporation reported that its annual Total Revenue rose from over $6.38 billion in 2015 to over $6.94 billion in 2016.

Shares of Calpine Corporation (NYSE:CPN) reached in 2014 as high as $24.24 per share.

On August 21, 2017, NYSE:CPN shares closed at $14.88 per share.

For more information on this press release visit:
http://www.sbwire.com/press-releases/calpine-corporation-nysecpn-shareholder-alert-investigation-of-takeover-851413.htm

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