Business
TransAlta Corporation to Acquire TransAlta Renewables Inc. to Simplify Structure and Enhance Strategic Position
TransAlta Corporation to Acquire TransAlta Renewables Inc. to Simplify Structure and Enhance Stra...
About this update from Transalta Corporation
[{"type":"text","content":"\n \n \n \n TransAlta Corporation to Acquire TransAlta Renewables Inc. to Simplify Structure and Enhance Strategic Position\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Business combination creates a unified, large-scale clean electricity leader to serve customers with clean and reliable electricity\n \n \n \n \n \n Creates a single, publicly-traded entity with one strategy and a simplified governance structure that facilitates growth, and provides greater clarity around the execution of the Clean Electricity Growth Plan\n \n \n \n \n \n The combined company enhances diversification, increases public float and trading liquidity, with attractive transaction metrics that unlocks value to the benefit of all shareholders\n \n \n \n \n \n Consideration payable to shareholders of TransAlta Renewables Inc. is equal to\n \n $13.00\n \n per common share, which represents an 18.3% premium based on a closing price of $\n \n \n 10.99\n \n \n per common share of TransAlta Renewables Inc. as of July\n \n \n 10, 2023\n \n \n \n \n \n Shareholders of TransAlta Renewables Inc. will be entitled to choose to receive, for each common share of TransAlta Renewables Inc. that they hold,\n \n \n 1.0337\n \n \n common shares of TransAlta Corporation or $\n \n \n 13.00 in\n \n \n cash\n \n \n , subject to pro-rationing based on a maximum aggregate issuance of\n \n \n 46,441,779 common shares of TransAlta Corporation\n \n \n and maximum aggregate cash consideration of\n \n $800 million\n \n \n \n \n \n \n A special committee of independent directors of TransAlta Renewables Inc., who conducted an independent and comprehensive review process, supported by the receipt of two fairness opinions, unanimously recommends\n \n \n that the shareholders of TransAlta Renewables Inc. vote in favour of the transaction\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n July 11, 2023\n \n \n /CNW/ - TransAlta Corporation (TSX: TA) (NYSE: TAC) (\"TransAlta\") and TransAlta Renewables Inc. (TSX: RNW) (\"RNW\") today announced th...