Pattern Energy Says ‘Yes’ to Canadian Takeover Offer

By [email protected] Pattern Energy, which ranks among North America’s leading wind operators, announced Monday it has agreed to be taken private by the Canada Pension Plan Investment Board, amid ongoing consolidation in the U.S. renewables development sector.

Rumors about a takeover of Pattern, which has a portfolio of 28 renewables projects totaling 4.4 gigawatts of capacity, have circulated in the market for the past several months.

CPPIB will pay $26.75 per share for Pattern Energy, valuing the company at around $2.6 billion, or $6.1 billion including its debt. That makes it one of the biggest M&A deals announced this year in U.S. renewables.

The acquisition

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