The activist investors who’ve bought into TransAlta Corp. are nominating five directors to the company’s board in an effort to kill an investment in the company by Brookfield Renewable Partners LP.
The investment was in response to shareholder dissatisfaction with the pace of change at TransAlta, CEO Dawn Farrell acknowledged, but wasn’t a direct response to the investment by New York-based Mangrove Partners and the two other funds.Mangrove said in January that it had acquired 9.4 per cent of TransAlta.
Later that day, she got feedback. The company said late Monday it had received notice that Mangrove Partners intends to nominate five candidates for election to the company’s board at TransAlta’s upcoming annual shareholders meeting. TransAlta said it “will review Mangrove’s notice, consider the suitability of its nominees and communicate more fully with its shareholder in due course.”
The funds said Tuesday they “have had insufficient time to fully evaluate the Brookfield Investment Agreement. However, they believe that transactions superior to [it] may be available to [TransAlta] and that it is therefore important to preserve the Company's ability to terminate the Brookfield Investment Agreement in order to explore and potentially pursue such superior transactions.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TransAlta strikes $750M investment deal with Brookfield Renewable PartnersTransAlta Corp. says Brookfield Renewable Partners and its institutional partners have signed a $750-million deal to invest in the company's hydro assets.
Source: CTVNews - 🏆 1. / 99 Read more »
The Liberals’ budget is an investment in election votes – and it’s bad news for the economyIt leans against attempts to rein in the biggest and most conspicuous threat to the country’s economic stability: record-high household debt that is tilted heavily toward mortgages globebusiness globebusiness And bad news for anyone with a shred of ambition. This budget is a blow to the hard work and sacrifice it takes to be successful. It’s better to sit back and let others pay your way. Canada is a slacker nation. cdnpoli globebusiness RobinHood politics. Here you take from those who work hard & give it to someone you think will vote for you? cdnpoli
Source: globeandmail - 🏆 5. / 92 Read more »
B.C. brings in tax credit to help spur liquefied natural gas investmentBritish Columbia is changing the province's tax structure for liquefied natural gas projects with Finance Minister Carole James saying the government is aiming to encourage more development through a natural gas tax credit. Not gonna happen. Trump wants to sew up The LNG Market from The Delta. Meet the new boss. Just like the old boss. Eh, jjhorgan ? But fights AB oil exports in court- under Trudeau Confederation is falling apart...
Source: CTVNews - 🏆 1. / 99 Read more »
B.C. brings in tax credit to help spur liquefied natural gas investmentFinance Minister Carole James says the change was introduced in legislation today and is meant to bring jobs and other financial benefits to the province through economic partnerships with Indigeno…
Source: VancouverSun - 🏆 49. / 61 Read more »