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Fri, Aug. 29, 2:04 PM
Thu, Aug. 14, 4:25 PM
Fri, Aug. 1, 11:09 AM
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.
Mon, Jul. 21, 9:10 AM
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.
Tue, Jul. 15, 9:08 AM
- Gas Natural (NYSEMKT:EGAS) responds to "inaccurate information" contained in a recent report from TheStreet.com; saying the board of directors "has not been, nor currently plans to be, engaged in a process to sell the company."
- The report said EGAS had been talking to prospective buyers about a sale, but the talks were derailed when former CEO Richard Osborne filed a lawsuit against the company.
- EGAS says it is focused on making significant changes within its accounting, gas purchasing and regulatory management departments, improving its internal control environment and strengthening overall governance.
Tue, Jul. 1, 11:08 AM
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