Excerpts from Thursdays NR From the NR released by WND on Jan 24:
"Due to the fact that Brookfield is a significant insider to the Company, and has had access to the Company's very detailed financial information that neither the public nor any other party has, it was clearly a material obligation by the Board of Western Wind, to release this update by way of a News Release, and to change the "No Recommendation" to a "Rejection" because of the impending new arrangements, which in any outcome, would be higher than $2.50.
Western Wind has been proceeding with the sales process as efficiently as possible, given the difficulties of having a significant insider making a hostile bid for the Company. Regardless of Brookfield's refusal, as an insider, to have a valuation performed, which keeps the process fair, Western Wind staff and the Independent Committee have been working diligently to accommodate the requests by Brookfield, of a revised offer. This offer been stated by Brookfield's CEO, several times.
Brookfield continues to mischaracterize, discredit and interfere with Western Wind's sincere attempt to sell the Company. The Western Wind Board only wants the best value for its shareholders, and Brookfield has shown that they are only interested in doing what's best for Brookfield. From the start, they have ignored the process and have shown nothing but contempt for our shareholders. We are hopeful that our shareholders will see through their ruse, and reject their strategies."