CANADIAN ENERGY producer Emera has launched a $110 million bid for total control of Emera (Caribbean) Inc.
And its management is offering Barbadian shareholders who do not want cash the option of owning a share of the North American giant.
It was more than four years ago that Emera succeeded in a bid to take over what was then Light & Power Holdings, the Barbados Light & Power Company’s (BL&P) immediate parent. That transaction gave it a 80.67 per cent controlling interest.
Yesterday, Emera said that in an effort to grow its investment in the Caribbean and “simplify the structure of its operations”, it was now offering $33.30 per share – a “30 per cent premium to the current share price”, for all remaining shares. (SC)
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