AQN - Algonquin Power gains amid report activist Corvex amassed stake

2023-04-28 15:27:21 ET

• Algonquin Power ( NYSE: AQN ) rose 1.8% amid a report that activist investor Corvex Management has built a stake in the Canadian power company.
• Corvex, led by Keith Meister, met with Algonquin's management for the first time last week, according to a Reuters report , which cited people familiar. The meeting was characterized as being friendly.
• The size of the Corvex stake and its intentions for the company moving forward weren't known, according to the report.
• The news comes after Bloomberg reported a week ago that Algonquin ( AQN ) had attracted activist investor Starboard Value, which has held amicable discussions with the utility for weeks.

For further details see: