Fri, Aug. 15, 6:20 AM| Comment!
Wed, Jul. 23, 2:19 PM
- 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.
Mon, Jul. 21, 11:45 AM
- Gas Natural (EGAS +2.4%) says it rejected three "unsolicited and inadequate" proposals made by Algonquin Power & Utilities (OTCQB:AQUNF) during 2014 to acquire all outstanding shares for $10, $12 and finally for $13.
- Shares had spiked into the close Friday after a WSJ report broke the offers and are continuing higher in today's trade.
Fri, Jul. 18, 4:37 PM
- Gas Natural (EGAS +6.7%) spiked into the close and is +4% AH after WSJ reports Algonquin Power & Utilities (OTCQB:AQUNF) has approached the natural gas distributor about a takeover three times this year.
- Algonquin sent letters to EGAS's board on Jan. 3, March 5 and May 15 outlining possible takeovers at respective prices of $10, $12 and $13 per share, according to the report.
- Algonquin acquired a ~4.9% stake in EGAS in April.
Fri, May. 9, 12:14 AM| Comment!
Aug. 9, 2012, 12:28 PMNatural-gas utility Atmos Energy (ATO +0.4%) has given back most of its early morning gains on a solid FQ3 report late yesterday. The quarter swung to a profit as asset impairment charges weighed on year-earlier results, and as earnings surged in its non-regulated segment. The company also agreed to sell substantially all of its natural gas distribution assets in Georgia to an affiliate of Algonquin Power & Utilities (AQUNF.PK) for about $141M. | Comment!
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