09:40 AM EST - TransAlta Corp. : announced that it intends to make an all-cash offer, through an acquisition entity, to acquire Calgary-based Canadian Hydro Developers at a price of $4.55 per share. The proposed transaction has an enterprise value of approximately $1.5 billion. TransAlta's offer represents a premium of approximately 30% to the volume weighted average trading price of Canadian Hydro Developers common shares on the TSX for the past 10 trading days and about 25% to the closing price of Canadian Hydro Developers common shares on the TSX on July 17, 2009. TransAlta expects to commence the offer on July 22, 2009. The offer will be open for acceptance for a period of 36 days and will expire on August 27, 2009 unless extended or withdrawn. TransAlta Corp.
shares T.TA are trading even at $21.01.
