Timing We have had an official committment from the CEO and the Board of WND that they will sell the company to the highest bidder.
Since then it has always been just a matter of time and price as long as there are bidders. Besides Brookfield there have been quite a few interested bidders..
So far we have a firm offer by Brookfield for $2.50, but that offer is pitifully low and has not followed the Insider regulations. Brookfield owes it to their shareholders to buy WND as cheaply as possible, even though (or because) WND is quite valuable to Brookfield (in some respects more valuable for Brookfield than for others) so it makes sense that Brookfield end up with at least the Tehachapi assets, if not all the wind projects or the whole company.
If you read the latest WND PR carefully, you will see that Jeff was not bellicose and just calmly refuted the misleading aspects of Brookfield's press release. If Brookfield is willing to pay the most, any rational shareholders, including managment and the Board will be happy to sell to them.
Note that there is nothing that precludes WND from sending us a deal, tomorrow.
Note that the latest WND press release once again indicated that the proceeds to shareholders will be much greater if a sale is made with Yab already through financial close. But that doesn't stop it from getting an acceptable buy-out bid tomorow. For example, a buyer could be willing to pay a price that is as high as it would be worth, after financial close had passed...the deal to close immediately after Yabucoa goes through financial close.
In fact, WND could make a deal to sell everything but Yabucoa at any time, and then sell Yabucoa the following day or month, perhaps to someone different from the buyer of the original assets.
Also, I want to revise and reduce my estimate for how long any deal will take to close. Apparently, a company than makes an offer can pay their fee and provide the required information to the US DOJ to get the HSR ball rolling quickly. That review could be over by the time WND shareholders vote on the deal. Additional layers of review would only kick in if WND was sold to a regulated utility.