Canadian Hydro Receives Several Proposals; TransAlta No Longer In The Lead

Posted by NAW Staff on September 22, 2009 No Comments
Categories : FYI

Canadian Hydro Developers Inc. has received a number of proposals following the data room process resulting from the unsolicited offer received from TransAlta Corp. in July.

Canadian Hydro owns and operates 21 renewable energy generation facilities in Canada, including wind, hydro and biomass projects.

A special committee of Canadian Hydro's board of directors is currently reviewing and evaluating these proposals. The company will update the market as this process continues.

Canadian Hydro continues to recommend unanimously that shareholders of the company reject TransAlta's offer of C$4.55 cash per share, which is now due to expire on Oct. 2, following three extensions of the offer.

Canadian Hydro issued a directors' circular in August, which lists seven reasons why shareholders should reject the TransAlta offer, with full detail explaining each. To reject the TransAlta offer, shareholders do not need to take any action.

SOURCE: Canadian Hydro Developers Inc.

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