RE: Brookfield fires another salvo at WND The timing of the letter by Brookfield to Western Wind may not be a coincidence.
The timing is interesting. Some shareholders have complained to the Ontario and BC Security Commissions that Brookfield is in breach of the regulations for Insiders. And they admit that they are insiders because they own more than enough shares, and have voting control of them, the amount surpassing the threshold needed to be considered an Official Insider.
But check out SEDI or here https://www.canadianinsider.com/node/7?menu_tickersearch=wnd
because I don't see any Insider filings by Brookfield, as required by Securities Regulations within 5 days of making a purchase.
And interestingly enough, I heard yesterday that the Security Commission has opened an investigation of Brookfield and its bid for WND, related to them being an Insider.
Brookfield, we can presume, wants to buy WND shares as cheaply as possible. It has neglected getting an official valuation and including it in the official bid, as is required by Insiders making a bid. We can guess that they don't want to present an independent valuation because it would not further their goal to buy Western Wind at the lowest price possible. But they are insiders.
Because they own more than 10% of the shares.
Because they were privy to insider information when they negotiated with WND about giving WND a loan.
I would be very happy to sell my shares to Brookfield, as long as they follow the Insider rules AND make the highest bid. Brookfield is the "natural owner" for the Tehachapi projects. It is likely worth the most, to them. The PPA there is at a huge premium compared to what is normal in the USA. It is a premium location with great cash flow. If I were them, I'd want it, especially since they own the site "next door".
If you think that Brookfield should be required to follow the Insider rules, you might want to tell the Security Commissions your opinion.