{"id":50639,"date":"2019-08-08T22:58:00","date_gmt":"2019-08-09T02:58:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50639"},"modified":"2025-11-11T22:59:49","modified_gmt":"2025-11-12T03:59:49","slug":"vnr-pr-a-progress-towards-acquisition","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50639","title":{"rendered":"VNR.PR.A: Progress Towards Acquisition"},"content":{"rendered":"

Valener Inc. has announced<\/a>:<\/p>\n

\n

On March 27, 2019, a definitive arrangement agreement (the \u201carrangement agreement\u201d) was signed wherein Noverco Inc., a private company and indirect controlling partner of \u00c9nergir, L.P. (\u201cNoverco\u201d), has committed to acquire all of Valener\u2019s issued and outstanding common shares and issued and outstanding Series A preferred shares (the \u201carrangement\u201d). Since that date, the key events involving the arrangement were as follows:<\/p>\n

Suspension of the dividend reinvestment plan, as required by the arrangement agreement, on March 29, 2019;
\nApproval by the Federal Energy Regulatory Commission on May 31, 2019;
\nSpecial Meeting held on June 11, 2019 and during which Valener\u2019s common shareholders and Series A preferred shareholders approved the arrangement at over 90% of submitted votes;
\nFinal order approving the arrangement issued on June 14, 2019 by the Quebec Superior Court; and
\nPublic hearing before the Vermont Public Utility Commission (\u201cVPUC\u201d) held on July 23, 2019. The decision might be issued in the coming weeks.
\nDetailed information about the arrangement is presented in the arrangement agreement and in the management information circular of \u00c9nergir Inc., in its capacity as a General Partner of \u00c9nergir, L.P., acting as manager of Valener Inc., dated April 24, 2019. These documents are available on SEDAR at www.sedar.com and on Valener\u2019s website at www.valener.com.<\/p>\n<\/blockquote>\n

The proposed acquisition at par<\/a> was announced in March and approved by holders<\/a> in June.<\/p>\n

The issue commenced trading 2012-6-6<\/a> as a FixedReset, 4.35%+281, after being announced 2012-5-15<\/a>. It reset to 4.62%<\/a> effective 2017-10-15. I recommended against conversion<\/a> and there was no conversion to FloatingResets<\/a>. The issue is tracked by HIMIPref™ and has been assigned to the FixedReset subindex. <\/p>\n","protected":false},"excerpt":{"rendered":"

Valener Inc. has announced: On March 27, 2019, a definitive arrangement agreement (the \u201carrangement agreement\u201d) was signed wherein Noverco Inc., a private company and indirect controlling partner of \u00c9nergir, L.P. (\u201cNoverco\u201d), has committed to acquire …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-50639","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50639"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50639\/revisions"}],"predecessor-version":[{"id":50640,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50639\/revisions\/50640"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}