Reuters: Hedge fund urges Atlantic Power to return cash to shareholders

|About: Atlantic Power Corporation (AT)|By:, SA News Editor

Mangrove Partners is urging Atlantic Power (NYSE:AT) to return cash to shareholders and could push for a possible sale or break-up of the company, Reuters reports.

The hedge fund, which owns ~7.5% of AT shares, is said to be looking for AT to pay a special dividend of $300M, or ~$2.50/share, or a possible share repurchase.

Breaking up or selling AT could require Mangrove to work to replace some directors in order to gain control of the eight-person board, but the report suggests the hedge fund has not decided whether to take that step.

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