SAN DIEGO, Aug. 18, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of Calpine Corporation (NYSE: CPN) ("Calpine ") breached their fiduciary duties in connection with the proposed sale of the Company to Energy Capital Partners along with a consortium of investors led by Access Industries and Canada Pension Plan Investment Board. Calpine is a wholesale power generation company that owns and operates natural gas-fired and geothermal power plants in North America.
On August 18, 2017, Calpine announced that it had signed a definitive merger agreement to be acquired. Terms of the deal call for shareholders to receive $ 15.25 per share for each share of Calpine stock they own.
The investigation concerns whether the Calpine board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Calpine shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given that the price target for one Wall Street analyst is $20.00 per share.
If you are a shareholder of Calpine and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson & Weaver, LLP