Calpine Nearing Deal to Sell Itself to Energy Capital Partners for $5.5 Billion
A potential deal was first reported in May.

Power-generation company Calpine Corp. (CPN) is nearing a deal to sell itself to private equity firm Energy Capital Partners for $5.5 billion, or $15.25 per share in cash, sources told the Wall Street Journal Friday.

Calpine has a market value of $4.9 billion, and the purchase price would be a premium of 51% over the stock's closing price the day before the Wall Street Journal first reported a potential deal in May. 

Calpine shares were up 10.23% to $14.87 in premarket trading Friday. 

More of What's Trending on TheStreet:

More from Stocks

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain