TransAlta makes unsolicited bid for Canadian Hydro
Canada's largest publicly traded electricity producer, TransAlta Corp, said on Monday it intends to make an unsolicited takeover bid for Canadian Hydro Developers Inc in an attempt to expand its renewable energy portfolio.
TransAlta Corp. has launched a $1.5-billion, hostile takeover bid for renewable energy developer, Canadian Hydro Developers, a move that would give TransAlta, now heavily coal-based, one of the largest wind and renewable portfolios in the country.