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Article: TransAlta and Canadian Hydro Developers reach agreement on acquisition at $5.25 cash per share.
- Article from:
- Marketwire Canada
- Article date:
- October 5, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALGARY, ALBERTA, Oct 5, 2009 (Marketwire via COMTEX) -- TransAlta Corporation (TSX:TA)(NYSE:TAC) and Canadian Hydro Developers, Inc. (TSX:KHD) have entered into a definitive pre-acquisition agreement (the "Agreement") pursuant to which TransAlta's wholly-owned subsidiary will amend its existing offer (the "Amended Offer") to acquire all of the issued and outstanding common shares of Canadian Hydro. The Amended Offer will provide for $5.25 per share in cash. The Amended Offer, which has a total value of approximately $1.6 billion, has the unanimous support of the Boards of Directors of both companies.
A notice of variation and extension of the existing offer is ...