Brookfield Renewable update on its offer for western wind
Monday, Feb 18, 2013Brookfield Renewable Energy Partners L.P. (TSX:BEP.UN) ("Brookfield Renewable") and WWE Equity Holdings Inc. (the "Offeror") announced today that, given the positive momentum of the Offeror's all-cash offer to acquire the common shares of Western Wind Energy Corp. ("Western Wind") for $2.60 per share (the "Offer"), the Offeror is forming a soliciting dealer group, and has engaged CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc. to act as dealer managers, to solicit tenders in support of the Offer. The dealer managers have undertaken to form and manage a soliciting dealer group comprised of members of the Investment Industry Regulatory Organization of Canada. Brookfield Renewable will pay to the members of the soliciting dealer group a fee of $0.02 per Western Wind common share tendered in support of the Offer that is solicited by a member of the soliciting dealer group. The fees payable to a soliciting dealer are subject to the following: the solicitation fee payable in respect of any single beneficial shareholder shall not be less than $75.00 or more than $1,500.00 where the number of shares tendered by such beneficial shareholder is greater than or equal to 2,000 shares. Fees will only be payable in the event the Offer is completed.
The Offer will NOT be further extended unless the minimum tender condition is satisfied (50% of the shares held by shareholders independent of Brookfield Renewable), so shareholders need to act now to carry the Offer over the finish line and finally realize on their investment in Western Wind.