Mirant says it is exploring a possible sale, other moves; shares rise nearly 6 pct

<p>Mirant Corp. said Monday it was considering a possible sale and other moves to boost the power provider's value for shareholders. Its shares rose nearly 6 percent in morning trading.</p><p>The Atlanta-based energy company is currently selling its business in the Philippines, six U.S. natural gas-fired plants and its Caribbean operations. The transactions are expected to close by the year's end.</p><p>Mirant said it is also considering returning excess cash from sale proceeds to stockholders, or signing a deal with another company, including a possible merger. The company doesn't expect to consider making an acquisition.</p><p>"We are commencing this exploration of alternatives in order to provide our stockholders with the greatest possible value," said Edward R. Muller, Mirant's chairman and chief executive officer.</p><p>J.P. Morgan is serving as Mirant's financial adviser.</p><p>Last month, the international energy company said it earned $1.86 billion, or $6.28 per share, in 2006 on revenue of $3.1 billion.</p><p>Its shares rose $2.32, or 5.7 percent, to $42.96 in morning trading on the New York Stock Exchange after briefly rising to a 52-week high of $45.99.</p><p>___</p><p>On the Net:</p><p>HASH(0x1d01fa0)</p>

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