Innergex Soars After $7 Billion Takeover From Quebec Pension (2)

Innergex Renewable Energy Inc. surged after pension manager Caisse de Depot et Placement du Quebec agreed to buy the Canada-based power company in an all-cash deal that values it at about C$10 billion ($7 billion) including debt.

Innergex investors will receive C$13.75 per share, a 58% premium to Monday’s close, the companies said Tuesday in a statement. At that price, the company’s equity is worth about C$2.8 billion. Innergex shares rose as much as 55% on Tuesday.

Quebec-based Innergex operates hydroelectric facilities, wind farms, solar farms and energy storage facilities in Canada, the US, France and Chile. The firm ...