TerraForm Power owns and operates solar and wind generation assets serving utility, commercial, and residential customers. The company has solar and wind projects located in the United States, Canada, the United Kingdom, and Chile. The company was founded in 2014 and is based in Bethesda, Maryland.
Shareholders of TerraForm Power (NASDAQ: TERP) have voted in favor of merging with Brookfield Renewable Partners (NYSE: BEP), according to an announcement by both companies. As a result, Brookfield Renewable will acquire all the outstanding shares of TerraForm that it doesn't already own (it currently holds a 62% stake in the renewable energy producer). Current shareholders of TerraForm had the option to either receive 0.47625 units of Brookfield Renewable Partners or the same number of shares in the newly formed Brookfield Renewable Corporation.
NEW YORK, July 14, 2020 (GLOBE NEWSWIRE) -- TerraForm Power, Inc. (Nasdaq: TERP) (“TerraForm Power” or the “Company”) today announced that Glass, Lewis & Co. (“Glass Lewis”), a proxy advisory firm, issued a report on July 13, 2020 recommending that TerraForm Power stockholders vote FOR the merger of the Company with Brookfield Renewable Partners L.P. (“Brookfield Renewable”) at the Company’s 2020 Annual Meeting of Stockholders (the “Annual Meeting”). If the merger is approved, each share of Class A common stock of TerraForm Power will be converted into the right to receive, at the stockholder’s election, either 0.381 of a unit of Brookfield Renewable or 0.381 of a share of Brookfield Renewable Corporation (“BEPC”), in each case, subject to adjustment for the special distribution of clas...
Moore Kuehn, PLLC, a securities litigation law firm located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders. Moore Kuehn may ultimately seek increased consideration, additional disclosures, or other relief and benefits on behalf of the shareholders of these companies: