We’ve been watching Calpine with interest these past few months as it has become apparent that the company is for sale. Today the company announced that it reached an agreement with Cleco Corp over Acadia Power Holdings. This comes on the heels of the settlement with bond holders of $12B for $0.33 on the dollar last week.

It’s clear the Street likes the news as buyers sent the stock up another 15% today. In January, Calpine was trading for just over $1 per share and today’s closing price was $3.75 per share, nearly a 4 bagger.

This entry was posted on Monday, April 23rd, 2007 at 2:39 pm and is filed under Business.