Brookfield, Caisse to Acquire Boralex in $6.5 Billion Deal (2)

Brookfield Asset Management Ltd. and Caisse de Depot et Placement du Quebec agreed to acquire Canadian renewable energy firm Boralex Inc. for C$9 billion ($6.5 billion) including debt.

The buyers will pay C$37.25 in cash for Boralex, implying an equity value of C$3.8 billion, according to a statement Wednesday that confirmed an earlier Bloomberg News report that the company was considering a sale.

The offer represents a 32% premium to the closing price on March 20, the last full day of trading before the Bloomberg story.

Boralex shares were up almost 11% to C$36.57 at 12:32 p.m. in Toronto.

The ...