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Calpine shareholders OK takeover by P-E firm

Dec. 15, 2017 1:57 PM ETCalpine Corporation (CPN) StockBy: Carl Surran, SA News Editor1 Comment
  • Calpine (NYSE:CPN +0.1%) shareholders approve the company's acquisition by an investor consortium led by P-E firm Energy Capital Partners for $15.25/share.
  • The deal, valued at nearly $17B including $11B-plus in debt, is expected to close during Q1 2018, pending regulatory approval.
  • The takeover would mean a $9.1M payoff for CPN CEO Thad Hill, who owns nearly 600K shares, according to SEC filings.

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