In a non-binding letter, LS Power indicated that the possible acquisition would be structured as a plan of arrangement and will be subject to completion of due diligence, TransAlta’s board of directors’ approval and various other conditions.
Donna Kaufman, TransAlta’s chairman, said: As we did in previous matters relating to Luminus, TransAlta’s board of directors has reconstituted its special committee of independent directors, will carefully consider the letter and will respond in due course.
