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SAN JOSE, Calif. — Calpine Corp., the U.S. power producer that exited bankruptcy protection Jan. 31, said it received an all-stock takeover offer from NRG Energy Inc. that values the company at $9.6 billion.
The terms of the proposal, received May 14, call for NRG to exchange 0.534 shares for each Calpine share, which implies a premium of 6.7 percent, based on the closing prices of the companies’ stocks Wednesday.
