CALGARY - TransAlta Corp. (TSX:TA) said Tuesday that it has increased its stake in Canadian Hydro Developers Inc. (TSX:KHD) to 93.5 per cent and will now force the remaining outstanding shareholders to sell their shares.
TransAlta said it expects the compulsory acquisition of the remaining shares will be completed on Wednesday.
The company acquired control of Canadian Hydro Developers after agreeing to pay $5.25 per share in a deal that valued the alternative-energy company at about $755 million.
TransAlta operates electricity generation plants using a variety of energy sources, although it relies heavily on coal as a power source.
In acquiring Canadian Hydro, a Calgary generator of clean power, TransAlta is hoping to expand its alternative energy assets as it prepares for tougher new rules to curb industrial pollution.
Liar’s Poker author Michael Lewis has a great review in The New Republic of Alice Schroeder’s biography of Warren Buffett, The Snowball: Warren Buffett and the Business of Life. Lewis says as much about Buffett as he does about the book in his analysis. Hat tip to Paul Kedrosky for pointing to the review. Also worth a read: Canadian [...]
I had a conversation earlier today in Montreal with Jeffrey Immelt, the chairman and CEO of General Electric Co. (GE), who was pretty blunt in his assessment of the so-called Buy American provision in President Barack Obama’s stimulus bill. “I think it’s terrible,” Immelt said, before speaking at the International Economic Forum of the Americas here. [...]
This week I spoke to Tom Bradley, president of Steadyhand Investment Funds Inc., a Vancouver-based, mutual-fund group launched in April, 2007. He wanted to fill me in on what his funds were all about (I had inadvertently overlooked them in an article I did on low-fee funds awhile back). Normally, I tend to avoid actively managed [...]
The results of Cone’s 2009 Consumer New Media Study include two points that I found to be remarkable: “Forty-four percent of American new media users are searching for, sharing or discussing information about corporate responsibility (CR) efforts and programs…” “Sixty-two percent of users polled believe they can influence business decisions by voicing opinions via new media channels. ” While the [...]
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