Shareholders

Independent power generator Calpine Corp. announced last Friday that one of its biggest single shareholders, Harbinger Capital Partners Master Fund Ltd., has agreed to sell 20 million shares of Calpine common stock in a registered public secondary offering, which will close Wednesday. Calpine said it will not receive any proceeds from the offering. Harbinger has granted Morgan Stanley the option to purchase an added 3 million shares solely to cover overallotments, Calpine said. Morgan Stanley is the sale’s sole underwriter. “The common shares purchased by Morgan Stanley are being offered for resale from time to time in negotiated transactions or otherwise at market prices on the New York Stock Exchange prevailing at the time of sale, at prices related to such prevailing market prices or otherwise,” Calpine said.

Amidst lawsuits, a competing bid and some angry shareholders, the Constellation Energy Group and MidAmerican Energy Holdings merger continues to move forward, according to the companies. MidAmerican said last Friday it has completed its 14-day due diligence of Constellation’s retail and wholesale businesses, including trading records. Meanwhile, Constellation Energy Partners LLC earlier in the week put itself on the “for sale” block.

Amidst lawsuits, a competing bid and some angry shareholders, the Constellation Energy Group and MidAmerican Energy Holdings merger continues to move forward, according to the companies. MidAmerican said Friday it has completed its 14-day due diligence of Constellation’s retail and wholesale businesses, including trading records.

Constellation Energy Group is facing a wave of lawsuits from shareholders who are seeking to block the company’s $4.7 billion buyout by Berkshire Hathaway’s MidAmerican Energy Holdings Co. and who claim that Constellation Energy inflated its financial results and intentionally mislead investors.

With fourth quarter and full-year earnings reports days away, oil and gas producers are preparing shareholders for underwhelming results.

With fourth quarter and full-year earnings reports days away, oil and gas producers are preparing shareholders for underwhelming results.

Iowa regulators have approved Black Hills Corp.’s acquisition of Aquila Inc.’s natural gas utility assets and operations in the state, the companies announced last Wednesday.

More than 17% of London-based BP plc’s shareholders Thursday voted down an executive remuneration package that would give CEO John Browne a generous compensation package when he retires in July.

Nymex Holdings Inc. announced that its shareholders approved its initial public offering (IPO) and related proposals at a special meeting Thursday. More than 91% of the shares voted in favor of the IPO and related proposals. The IPO is subject to several additional conditions, including favorable market conditions and receipt of regulatory approval. Nymex had been contemplating whether or not to hold an IPO for the last year. In March, Nymex Holdings closed on a deal in which General Atlantic LLC invested $160 million for a 10% equity stake in Nymex Holdings. Under that deal, General Atlantic agreed to help Nymex launch an IPO. Nymex said that if the IPO is consummated by Dec. 31 at a price which values Nymex at $2 billion or more, General Atlantic will be required to pay an additional $10 million to Nymex without receiving any additional shares of preferred or common stock. If that occurs, Nymex plans to distribute that additional $10 million as a special dividend to the company’s stockholders of record on March 13, the last business day before the closing of the transaction with General Atlantic.