TransAlta gets OK to acquire Canadian Hydro Developers

Canadian regulators have given approval to TransAlta to proceed with its planned acquisition of Canadian Hydro Developers, which would create the country’s largest publicly traded renewable energy company.

17 August 2009 23:24 GMT Updated 26 September 2016 15:05 GMT

By Richard A. Kessler

The Canadian Competition Bureau issued an Advanced Ruling Certificate to TransAlta saying that its C$635.5m offer can proceed without further regulatory review.

TransAlta plans to purchase all of Canadian Hydro’s 143.8 million shares outstanding at the end of second quarter at $C4.55 a share.

TransAlta says its purchase offer represents a premium of 25% over Canadian Hydro’s share price close on 17 July, the last trading day before TransAlta announced it would make takeover offer.

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TransAlta gets OK to acquire Canadian Hydro Developers