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BRIEFLY

Energy

November 08, 1994|From Times Staff and Wire Reports

Magma Power Gets Inquiries: After rejecting a revised bid by California Energy Co., San Diego-based Magma Power Co. has gotten a "substantial number of inquiries" since announcing it would meet with interested parties to discuss possible business combinations, its chief executive said. In rejecting Omaha-based California Energy's offer for a 51% stake in the company and a revised bid of $38.50 per share in cash and stock, Magma said it wanted to study alternatives benefiting shareholder value, including joint ventures, a merger or some other combination. Chief Executive Ralph Boeker declined to identify the interested parties.

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