Mirant to explore strategic alternatives

By Lisa Kerner

Charlotte, N.C., April 9 - Mirant Corp.'s board of directors, along with financial adviser JPMogan, will explore strategic alternatives to enhance stockholder value that could include a sale of the company, according to a company news release.

The company said it does not intend to disclose strategic alternative developments until evaluations are complete or a specific transaction is approved.

Mirant said it has made "significant progress" in its planned sale of its Philippine business. In addition, the company expects to close on the sale of six U.S. natural gas-fired plants in the second quarter and should finalize the sale of its Caribbean business mid year.

The Atlanta-based competitive energy company will not provide earnings guidance during the exploration process, the release stated.

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