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Greenlight Takes Stake in Calpine, Reduces Consol Energy at Loss

  • David Einhorn’s firm buys $83.5 million stake in Calpine
  • Greenlight also purchases shares of Rite Aid, Perrigo

Greenlight Capital, the hedge fund firm led by David Einhorn, is making a new energy play, taking a stake in independent power producer Calpine Corp. during the second quarter.

Einhorn’s firm bought 5.66 million shares of the company worth $83.49 million as of June 30, according to a regulatory filing Monday. Calpine produces power from natural gas and renewables.