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Thread: $7.8-billion bid for TransAlta

  1. #1

    Exclamation $7.8-billion bid for TransAlta

    $7.8-billion bid for TransAlta

    Financial Post
    Published: 7:22 am July 21, 2008

    Electrical power generator TransAlta Corp. (TA/TSX) has been offered a $7.8-billion buyout from private-equity firms Luminus Management LLC and
    Global Infrastructure Partners.

    The Calgary-based company said Monday that it has received an offer valued at $39 per share, which represents a 21% premium on TransAtla share's closing price of $32.25 on the Toronto Stock Exchange on Friday.

    Article Link:
    http://www.canada.com/edmontonjourna...8-210b684e0f1f

  2. #2
    Plug C2E into my veins!!!
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    Is this a good or bad thing?

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    Depends...

    I'm hearing a couple of things...a buyout by a PE firm = divide and sell.

    OR

    A sale increases stock prices on speculation. This gives a chance to report a profit for the company. Hmmm.
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    Like Spar and L3?

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    Yup
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    Calgary loses a headoffice (yeah, I'm petty). Epcor maybe gets a chance at some divested assets to expand their portfolio (although probably not cheap).

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    Anyone paying attention would have noticed a rash of takeovers of Calgary companies by foreign interests lately. It's rapidly becoming the "regional office" capital for o&g interests.

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    Quote Originally Posted by 240GLT View Post
    Anyone paying attention would have noticed a rash of takeovers of Calgary companies by foreign interests lately. It's rapidly becoming the "regional office" capital for o&g interests.
    Yep, and I think we can expect this to continue. The Big Boys are taking notice.

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    /\ anyone paying attention would know that for the most part, this "regional" head office routine has ALWAYS been the case. Shell Canada vs RDS in Amsterdam...yeah right. The only thing really giving Calgary an edge to call anything a Head Office was the 49th parallel. While they do have reason to celebrate and brag about having a Canadian Head Office, and the trappings that go with it, they've always been more "regional" on a global scale.

    Now with companies like RDS consolidating their worldwide operations, look for that trend to continue. That doesn't necessarily translate into job losses on the whole, nor a crash in Calgary office real estate, but more of a global reality. The power center in NA with respect to O&G is still Houston.
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