- Pattern Energy (PEGI +8%) shares spiked into the close following a Bloomberg report citing takeover interest in the company.
- PEGI is working with a financial adviser after drawing interest from suitors including Brookfield Asset Management (NYSE:BAM), which has floated the idea of merging the company with TerraForm Power (NASDAQ:TERP), according to the report; BAM owns ~65% of TERP.
- Talks are said to be ongoing but no decision has been made and the company could remain independent.