TORONTO, Oct. 3, 2023
/CNW/ - The shareholders of TransAlta Corporation (TSX: TA) (NYSE:
TAC) and TransAlta Renewables Inc. (TSX: RNW) have agreed to the
terms of a Plan of Arrangement resulting in the combination of the
two companies. Each share of TransAlta Renewables will be exchanged
for 1.0337 shares of TransAlta Corporation or CAD$13.00 cash subject to proration of a max cash
of $800 million and a max number of
TransAlta Corporation shares issued of 46.4 million.
TransAlta Renewables will be removed from the S&P/TSX
Composite Index prior to the open of trading on October 10, 2023. The shares outstanding of
TransAlta Corporation will be increased at the same time to reflect
the issuance of shares.
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