OTHER NEWS - Oct. 14, 1994
California Energy Seeks to Add Directors to Magma Board: In a filing with the Securities and Exchange Commission, the company said Magma Power Co. shareholders will be asked to vote on adding four California Energy nominees as directors, expanding the number to 15. The board recommended Monday that shareholders reject California Energy Co.’s $434-million, $35-a-share bid for 51% of the San Diego-based company. Mark Harnett, a spokesman for California Energy, said the Omaha-based company hasn’t chosen its nominees, “though I’m sure the company has a few in mind.” Both Magma and California Energy operate geothermal power plants.
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