Algonquin Power & Utilities Corp T.AQN

Read between the lines

[Hungus]

They are not proceeding with the Kentucky Power purchase.

They have no intention of extending the sale deadline past April 26th. No chance, whatsoever, of the regulatory approval by that date. They haven't even refiled their application with FERC yet (they will, just delaying it as long as possible). Won't commit to naming any assets on the chopping block to fund this purchase either.

They are obligated to use "best efforts" to purchase KP by April 26th in order to only get dinged with the break fee. So, they cannot come right out and say "we are cancelling the deal" - that would not be "best effort" and they would get sued to high heavens.

AQN is just running out the clock, that's all. KP deal is toast. Market *should* be rejoicing right now...

[rustyblades]

You're probably right. I think they have heard from shareholders loud and clear that this is a bad deal. Still a risk on interpretation of "best efforts"

[Shylock40]

Okay, so they back out of the KP deal.. you are going to trust these bozo's of a Executive/Board team with your money?  These idiots have lost all credibility. Add to that a US based investor stock listing base and the lawsuits will start flying for the sheer amount of wealth distruction/incompetence... Will put my money in this dumpster fire once we hit <$7/share... Best of Luck to

[ol_griz]

I'll second - no, I'll third that.  The only upside to the update would have been a withdrawal from the deal but to do so even if they intended it would not be prudent - kind of like Biden saying he's too old to run again.  Combine this with the vagueness on asset sales and the drip surprise and you get the diffident response of the analysts who mostly mix their "meh

[1zmxncbv]

My thoughts exactely  !!  I posted awhile back that this deal was not going to be completed .. Good for this stock !!!