Calpine Backs FY17 Adj. EBITDA View; Mulls Potential Sale - Quick Facts

(RTTNews) - Calpine Corp. (CPN), an electric utility, on Friday reaffirmed its forecast for fiscal 2017 adjusted EBITDA between $1.80 billion and $1.95 billion.

Further, the company said its Board of Directors and management are in discussions regarding a potential sale of Calpine.

The Board plans to proceed in a timely manner but has not set a definitive timetable for completion of these discussions. There can be no assurance that these discussions will result in a transaction of any kind, or if a transaction is undertaken, as to terms or timing.

Thad Hill, Calpine's President and Chief Executive Officer, said, ".... the public equity markets have undervalued our business and underappreciated our strong track record of executing on our financial commitments and our stable cash flows. Early this spring, our Board of Directors decided to explore strategic alternatives for the company, seeking to enhance value for our shareholders. At this time, our Board, together with management and financial and legal advisors, are in discussions regarding a potential sale of Calpine."