Calpine to be acquired by consortium led by Energy Capital

Calpine Corp. has entered into a definitive agreement under which Energy Capital Partners, along with a consortium of investors led by Access Industries and Canada Pension Plan Investment Board, will acquire Calpine for $15.25 per share in cash, or $5.6 billion. The transaction follows a competitive strategic review process and was unanimously approved by Calpine’s board of directors.

For more information, visit www.Calpine.com or www.ecpartners.com.

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