Buyout coming and the price should be at least 1.2 of book value
From Seeking Alpha article:
"For arguably the cleanest portfolio in the business, investors can turn to Atlantic Power , which offers a portfolio that's 96% clean and a dividend yield near 8%. No matter where you look, the industry is working hard to clean up its generating capabilities. (Link)
The shareholders need to approve the poison pill- There was a article in Seeking Alpha saying that that the posion pill had to be voted and approved by the shareholders( which we will not approve) and also the lawyers mentioned that posion pill will not go thru
The P/B is 0.72. So I divide 4.9 by 0.72 and multiply by 1.2 , equals $8.16
These large coal utilities are looking for clean IPP and AT is 95% clean. There is no cleaner IPP than AT. Recently they sold some assets and now even their balance sheet is clean !
The only one that are dirty are the lawyer that going minor issue of reducing dividend.