RE:Read between the linesYou're probably right. I think they have heard from shareholders loud and clear that this is a bad deal. Still a risk on interpretation of "best efforts"
Hungus wrote: They are not proceeding with the Kentucky Power purchase.
They have no intention of extending the sale deadline past April 26th. No chance, whatsoever, of the regulatory approval by that date. They haven't even refiled their application with FERC yet (they will, just delaying it as long as possible). Won't commit to naming any assets on the chopping block to fund this purchase either.
They are obligated to use "best efforts" to purchase KP by April 26th in order to only get dinged with the break fee. So, they cannot come right out and say "we are cancelling the deal" - that would not be "best effort" and they would get sued to high heavens.
AQN is just running out the clock, that's all. KP deal is toast. Market *should* be rejoicing right now...