TERP - This High-Yield Renewable-Energy Stock Will Soon Disappear
Rumors started swirling around Pattern Energy (NASDAQ: PEGI) in August that potential buyers had approached it with takeover offers. Those reports, which the company subsequently confirmed, sent shares of the renewable-energy company soaring. They also led the company to form a special committee to review the bids it received.
In the end, the company settled on an all-cash offer from the Canada Pension Plan Investment Board (CPPIB). As a result, Pattern Energy will soon cease to exist as an income option for investors. It's a somewhat disappointing outcome for long-term investors who were hoping to earn a renewable income stream for years to come.
Image source: Getty Images.