TerraForm Power (TERP) Met with Brookfield on Nov. 9th
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TerraForm Power (NASDAQ: TERP) shares are popping higher on news that it meet with Brookfield on Nov. 9th. The two sides di
According to an amended 13D filing on Thursday:
Item 4 of the Amended Schedule 13D is hereby amended by adding the following:
On November 9, 2016, representatives of Brookfield met with the independent members of the board of directors of the Issuer, TerraForm Global, Inc. (“GLBL” and collectively, with the Issuer, the “TerraForm Companies”) and their advisors. At the meeting, Brookfield discussed the possibility of transactions involving Brookfield and the TerraForm Companies. Brookfield proposed two possible transaction structures: one in which Brookfield would purchase shares in the TerraForm Companies from their existing Class A and Class B stockholders, the TerraForm Companies would remain listed public entities, and Brookfield would replace SUNE as sponsor; and an alternative structure in which Brookfield would purchase 100% of the TerraForm Companies for cash. Nothing was agreed at the meeting, and no specific prices were discussed, but the Brookfield representatives indicated that their proposals were being discussed on the basis of public information and in light of the current market prices of the TerraForm Companies. The representatives of Brookfield indicated that it would consider a transaction along the lines described above for the Issuer only and for both the Issuer and GLBL but that any transaction involving GLBL would be conditioned on successful completion of the transaction for the Issuer.
scussed the possibility of transactions.
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