Dear Member,Alterra Power (AXY.TO) has entered into an agreement to be acquired by Innergex Renewable Energy for CAD$8.25 per share, which is a 63% premium to the share price today.Ross Beaty, Alterra’s largest shareholder, and the management of Alterra, have agreed to vote in favor and lock up their shares for 12 months.I do not see an interloper (someone to come and buy Alterra at a higher price), because Ross Beaty owns 31% of the company and management are on side of a buyout. Open Disclosure: I am also one of the largest shareholders of Alterra, and from what I have seen of this deal (conference call is in 1 hour) which our whole office will be glued too, I am in favor of this deal. And unless I see something I don’t like, my initial take from the press release is that I will also be tendering my shares.Innergex is a diverse well-funded green power producer that pays a 4.45% dividend. We know Innergex quite well, and we believe the share price of Innergex will also do well over the next few years.We will have a full update for all members in the November issue of Katusa’s Resource Opportunities, due in your inbox this Wednesday.Congratulations to all Alterra shareholders.
Marin Katusa