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Article: Canada: TransAlta gets Canadian Hydro to agree to $1.6-billion takeover.
- Article from:
- TendersInfo
- Article date:
- October 6, 2009
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A prolonged stalemate in TransAlta Corp.'s battle to take over green energy producer Canadian Hydro Developers Inc. appeared to have finally ended Monday, with the two Calgary-based firms reaching a tentative agreement on a $755-million deal.
The $5.25-per-share offer marks a more than 15 per cent improvement to TransAlta's original $654-million hostile bid for Canadian Hydro, which has wind, hydroelectric and biomass-fired plants across Canada. The boards of both companies said Monday they support the deal and for the first time, Canadian Hydro is encouraging its shareholders to accept the offer.
"We believe the revised offer from TransAlta provides our ...