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 | Renewable Energy News Article

renewableenergyworld.com 18 Sep '12, 4pm

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

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 company. Because the purchase comes with a promise from Brookfield to compensate Goodman if Western Wind is sold for more than C$2.25 in the next year, the transaction only makes sense if Brookfield intends to use its newly acquired votes to influence the vote in its favor. As a likely bidder in the ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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