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Calpine Corp shares surged on Wednesday afternoon after a report that the US power company is exploring a sale.

The company, which owns and operates mostly natural gas and geothermal power plans in North America, was reported by Dow Jones to be exploring a sale and to have attracted interest from private-equity firms.

Its shares were up more than 13 per cent to $11.41 on the news.

Copyright The Financial Times Limited 2017. All rights reserved.

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