Brief: Transalta Corporation To Acquire Transalta Renewables Inc

TransAlta

11/07/2023 13:06

July 11 (Reuters) - TransAlta Renewables Inc  RNW.TO :
    * TRANSALTA CORPORATION TO ACQUIRE TRANSALTA RENEWABLES INC.
TO
SIMPLIFY STRUCTURE AND ENHANCE STRATEGIC POSITION
    * TRANSALTA CORP - PROPOSED DEAL FOR $13.00 PER COMMON SHARE
    * TRANSALTA CORP - CONSIDERATION PAYABLE TO SHAREHOLDERS OF
TRANSALTA RENEWABLES INC. IS EQUAL TO $13.00 PER COMMON SHARE
    * TRANSALTA CORP - COMBINED COMPANY WILL OPERATE AS
TRANSALTA AND
REMAIN LISTED ON TSX AND NEW YORK STOCK EXCHANGE
    * TRANSALTA CORP - SHAREHOLDERS OF TRANSALTA RENEWABLES CAN
CHOOSE
TO GET FOR EACH SHARE 1.0337 SHARES OF CO OR $13.00 IN CASH
    * TRANSALTA CORP - IF AGREEMENT IS TERMINATED, TRANSALTA IS
ENTITLED TO A TERMINATION PAYMENT OF $95.4 MILLION
    * TRANSALTA - DEAL ACCRETIVE TO FREE CASH FLOW
    * TRANSALTA CORP - EXCHANGE OF RNW SHARES FOR TRANSALTA
SHARES
WILL GENERALLY BE TAX DEFERRED
    * TRANSALTA - DEAL PROVIDES FOR NON-SOLICITATION COVENANT OF
RNW,
SUBJECT TO A CUSTOMARY "FIDUCIARY OUT" PROVISION

Source text for Eikon:  ID:nPnzBM0Da 
Further company coverage:  RNW.TO 

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