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Friday, February 08, 2008 7:46:56 AM
On the 1st day of the valuation hearing in April 2005 we all learned for the first time that NRG was trying to make a deal with the creditors committee to buy MIR for about $ 13.2 Billion and that was for 16,000 or so MW of installed capacity.
http://www.reuters.com/article/marketsNews/idUKN3137029720080201?rpc=44
Now, however, we have CPN that has issued about 500 million shares, with 485 million shares going to various creditors and for any number of reasons CPN has not started trading.
CPN has about 22,000 MW of installed capacity not to mention close to 10 million pounds / hour of process steam generation capacity at its various cogeneration plants.
NRG has clearly shown in the past an interest in buying out an IPP soon after exiting ch11. If NRG was willing to pay $ 13.2 Bn for MIR's 16,000 MW, then they certainly would go for let's say $ 10 Bn for CPN's 22,000 MW plus the extensive cogen capacity and let's not forget the 750 MW of geothermal.
Buying CPN or merging with CPN would certainly fit into David Crane's environmental stewardship motto.<<<
Post from the MIR board at Investorvillage.com
http://www1.investorvillage.com/smbd.asp?mb=4142&mn=11198&pt=msg&mid=4060139
Joe
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