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CWEN - Pattern Energy: So Long And Thanks For All The Dividends
Clearway Energy Inc. Class C
Just as Pattern Energy (PEGI) began making progress on delivering significant CAFD growth, it decided to sell out to the Canadian Pension Plan Investment Board. Shareholders are mostly disappointed at the offer of $26.75/share to take the company private. While the offer represents a “premium” to the price before buyout rumors began, it was below the share price at the time of announcement. Pattern’s peers in the yieldco space have appreciated similarly in the last few months. As it stands, the current offer represents fair value for the company without taking into account