Unsolicited Bid Kicked Off Strategic ReviewOn BNN this morning, Andrew McCreath (around 9:15 if you want to replay the interview) discussed Enbridge's purchase of the Bakken Pipeline as an example of Canadian companies moving outside of Canada for investment opportunities. As an aside he mentioned that Northland's North Sea assets would be a good fit for Enbridge. This comment is not surprising given Enbridge's Nov 2015 investment in a 24.9% share of the 400MW Rampion Offshore Wind Project in the UK which is scheduled to be fully operational in 2018.
What perked my ears was that he said Northland's strategic review was started as a result of an unsolicited bid Northland received. He went on to say that Northland would sell for upwards of $28 per share if the company is taken over. In interest of disclosure he said his funds own Northland.