Finance / United States
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NRG's US$11bn Unsolicited Bid for Calpine
May 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Energy wholesaler NRG Energy, Texas' second biggest power producer, has made an US$11bn unsolicited bid for Calpine Corp, based in California and Texas. A successful takeover of Calpine, the US's largest producer of electricity from gas fields, would allow NRG to almost double its current output, and expand into California. It would also produce the US's largest independent power generator, a diversified multi-fuel producer with a serious presence in all the US's major power markets.