Bullboard - Stock Discussion Forum Algonquin Power & Utilities Corp T.AQN

Alternate Symbol(s): T.AQN.PR.A | T.AQN.PR.D | AGQPF | AQN

Algonquin Power & Utilities Corp. is a Canada-based diversified international generation, transmission, and distribution company. The Company through its two business groups, the Regulated Services Group, and the Renewable Energy Group, provides sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one... see more

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Algonquin Power & Utilities Corp > AQN GAINS ON REPORTS ACTIVIST INVESTOR IS IN THE MIX

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Post by Humanist on Apr 28, 2023 3:48pm

AQN GAINS ON REPORTS ACTIVIST INVESTOR IS IN THE MIX

Algonquin Power gains amid report activist Corvex amassed stake

https://seekingalpha.com/news/3962250-algonquin-power-gains-amid-report-activist-corvex-amassed-stake

Apr. 28, 2023 3:27 PM ETAlgonquin Power & Utilities Corp. (AQN), AQN:CAAEPBy: Joshua Fineman, SA News Editor1 Comment

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Algonquin Power (NYSE:AQN) rose 1.7% amid a report that activist investor Corvex Management has built a stake in the Canadian power company.
Corvex, led by Keith Meister, met with Algonquin's management for the first time last week, according to a Reuters report on Friday, which cited people familiar. The meeting was characterized as being friendly.
The size of the Corvex stake and its intentions for the company moving forward weren't known, according to the report.
The news comes after Bloomberg reported a week ago that Algonquin (AQN) had attracted activist investor Starboard Value, which has held amicable discussions with the utility for weeks.
The activist interest in Algonquin (AQN) comes after the utility said April 17 it was terminating a planned purchase of Kentucky utilities from American Electric Power (AEP) after the Federal Energy Regulatory Commission rejected the deal.