Seeking Alpha

Algonquin Power goes activist in pursuit of Gas Natural

  • Algonquin Power (OTCQB:AQUNF) is taking its case to Gas Natural (EGAS +1.2%) shareholders, calling on them to back its takeover proposals and possibly a change in the target's board.
  • Algonquin sent a letter to the EGAS board saying it "extended multiple proposals" to acquire the company, which refuses to discuss a potential deal, thus "preventing shareholders from receiving an immediate and compelling premium for their shares."
  • Algonquin urges EGAS shareholders to demand the board maximize shareholder value through a sale process and to withhold support for incumbent directors in advance of the July 30 annual shareholders meeting.
Comments (1)
  • sethmcs
    , contributor
    Comments (3395) | Send Message
     
    Nasty nasty. Instead of bad mouthing the board why don't you offer a higher price.
    23 Jul 2014, 03:10 PM Reply Like
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