- Cleco's (CNL -9.1%) attempt to find a buyer is faltering, as the likeliest suitor for the Louisiana utility struggles to drum up investor backing for the deal, according to a Bloomberg report.
- Australian bank Macquarie (OTCPK:MCQEF) reportedly has been seeking to acquire CNL through a special purpose fund managed by its infrastructure group, but the fund's co-investors have balked at the prospective low returns, a result of CNL's already high share price and low growth prospects.
- Iberdrola (OTCPK:IBDRY) is said to have dropped out of the bidding; an earlier report indicated CNL had been close to a deal to sell itself to the Spanish utility.