TerraForm Power (NASDAQ:TERP) +8.3% pre-market after saying it received an unsolicited proposal from Brookfield Renewable Partners (NYSE:BEP) to buy all outstanding shares it does not already own; BEP already holds a ~62% stake in TERP.
• BEP is offering consideration equivalent to 0.36 of a unit for each TERP share, which would value TERP at $17.31/share, an 11% premium to TERP's closing price on Jan. 10.
• TERP says it has formed a special committee to evaluate the proposal.
BEP is trading at a High valuation. It will be a good idea to consolidate TERP and BEP for BAM. Lot more analysts follow TERP so hopefully there will be more coverage for BEP going forward.
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