The deal would see Plutonic shareholders receive 2.38 shares of Magma stock for each Plutonic share. Based on Magma’s closing price on Friday, before the deal was announced, Plutonic would be worth about C$190m ($195m), a roughly 20% premium over its market capitalization on Friday.
The merged company, to be known as Alterra Power, would be worth about $575m, the companies say.
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