Houston power generator Calpine sells for $5.6 billion to private equity
(WorldNews Business)

Private equity firm Energy Capital Partners and a consortium of investors has struck a deal to buy U.S. power generator Calpine Corp. for $5.6 billion in cash. Calpine investors will get $15.25 a share as part of the deal, the Houston-based company said in a statement. The investor group was led by Access Industries and Canada Pension Plan Investment Board. Calpine is one of the few publicly listed U.S. power generators still selling supplies directly into wholesale markets. These companies have seen their margins squeezed by cheap natural gas resources, a surge in renewable energy and subsidies that some...