| Add RSS Feed

4 January 2007 -- The Calpine Power Income Fund's board of trustees unanimously recommended to its shareholders to reject the unsolicited offer from Harbinger Capital Partners, calling the bid "financially inadequate, opportunistic and fails to recognize the full value of the Fund."

The Calpine board issued a statement saying that it considered many factors including the written opinion of its financial advisor, BMO Capital Markets in making this recommendation. The opinion of the board was that the offer by Harbinger, valued at C$831 million, would not serve any interests other than those of Harbinger's shareholders.

The Calpine board urged its unit holders to wait for a better offer and suggested that it has already received "strong interest" from other sources.

The Calpine Power Income Fund is managed by Calpine Canada Power Ltd., which is headquartered in Calgary, Alberta. Calpine indirectly owns interests in power generating facilities in British Columbia, Alberta and California.

| Add RSS Feed

---

More Business Articles >

Search Archives >

Power Engineering Article Categories:

Business		Projects/Contracts
Industry News		Deregulation
Environmental		Русский язык
Power Generation Young Professionals		Honeywell Automation & Control Solutions
HoneyWell Press Releases		HoneyWell Product Information
Power Engineering International Current Issue Table of Contents
Power Engineering Current Issue Table of Contents
Potencia Current Issue Table of Contents
Nuclear Power International Current Issue Table of Contents
Middle East Energy Current Issue Table of Contents

---

Search Products Buyer's Guide >

Search Industry Jobs >

Magazine & E-Newsletter Subscriptions >