Brookfield Renewable Energy Likely To Vote Against Western Wind Management in Proxy Battle: Filed under: Energy News

Brookfield Renewable Energy Likely To Vote Against Western Wind Management in Proxy Battle

Brookfield Renewable Energy Likely To Vote Against Western Wind Management in Proxy Battle: Filed under: Energy News

When it emerged that Brookfield Renewable Energy Partners (“Brookfield”, TSX:BRP.UN, OTC: BRPFF ) had acquired approximately one sixth of Western Wind Energy’s (TSXV:WND, OTC:WNDEF ) stock last Thursday from Western Wind’s largest institutional shareholder, Goodman & Company, investors cheered. The transaction was seen as a signal that Brookfield intends to bid at least C$2.25 for Western Wind in its upcoming sale , and so the company’s stock has been trading for slightly more than C$2.25 since the announcement. Despite this, the Brookfield/Goodman transaction may not prove to be a good deal for Western Wind’s other shareholders. Goodman had not said how it intended to vote in the upcoming proxy battle between Western Wind’s management and 4.78% owner Savitr Capital. The main issue in this proxy battle is which team is best suited to manage the process of selling the compa...

Full article: http://www.altenergystocks.com/archives/2012/09/brookfiel...

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