MarketWatch – Harbinger Capital, a big hedge-fund firm run by Philip Falcone, is selling 20 million shares of power company Calpine Corp.
Harbinger Capital Partners Master Fund I Ltd. is selling the stock in a public secondary offering underwritten by Morgan Stanley, Calpine said in a statement late Tuesday.
Harbinger plans to grant Morgan Stanley the option to buy another three million Calpine shares. The power company said it won’t get any of the proceeds from the sale.
