Hedge Fund Sues Pattern Energy Over $6.1B Go-Private Deal

Law360 (February 25, 2020, 8:05 PM EST) -- Pattern Energy's planned $6.1 billion sale to the Canada Pension Plan Investment Board is fraught with conflict and undervalues the company, a hedge fund said in a proposed class action filed Tuesday in Delaware federal court.

Hedge fund Water Island Capital LLC claims that the California-based clean energy company’s board of directors and some of its executives agreed to a deal that features multiple conflicts of interest and contains false and misleading statements that make it impossible for shareholders to have an informed vote.

Under the terms of the transaction, announced in November, CPPIB would acquire Pattern Energy for $26.75 per share...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!