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Just hold on I have heard that a person would be crazy to take that offer from an insider that should know
Anyone else get the official offer of 2.50/share from Brookfield?
Whatta joke. Why would they think shareholders would settle for that unless an absolute last resort?
It not like we didnt vote to reject the same offer from Algonquin about a year ago now.
The rummer mill is swerling but this seemed plasable as they are a co out of Germany and they are not that well known, how would there name get in the mix if there wasn't something to it ? That is what i figured, aws I have seen co from asia and europe sneek in and scoup up N American co. They are usualy mining co.Lets hope for the best we will see shortly.
You have come up with some quality digs in the past. Now would be a time for another one if possible.
Where did you read that? Would be nice...!
I have read that a german wind co has made a bid over 5 dollars I hope this can be confermed that would be great for us share holders
Nice earnings for Q3. Did anyone have the opportunity to listen to the CC today? Hoping Seeking Alpha will put out a transcript.
I dont think that offer was ever substantiated, but yeah, there has been no lack of sleezeball, IMO, manuevers to take over this company on the ultra-cheap, the multiple 2.50 takeover attempts. My napkin BV number is 5.79. I have a target price of 75% of BV or around 4.35. Id be satisfied with that, knowing that both seed shareholders and buyers alike could walk away with value, and something in that arena would be most likely IMO.
This just came out:
TSX.V Symbol: "WND"
OTCQX Symbol: "WNDEF"
Issued and Outstanding: 69,022,637
VANCOUVER, Nov. 27, 2012 /CNW/ - Western Wind Energy Corp. - (Toronto Venture Exchange - "WND") (OTCQX - "WNDEF"), will release its financial results for the quarter ending September 30, 2012 after the close of business on November 29, 2012. The company will be holding a conference call on Friday November 30, 2012 at 1:00pm Eastern Time (10:00 am Pacific Time).
To participate in the conference call, please dial the following:
Toll free Canada & USA: 1-800-319-4610
Outside of Canada & USA: 1-604-638-5340
Participants should dial in 5 - 10 minutes prior to the conference.
Q3 Thursday and a Friday CC. Things got real interesting to me real quick.
Remember we had a 4 dollar offer a few years back those people are still around so The bid is at least 4 bucks I would presume. I can hardly beleive that they have keep the bids so secret with all the players.
Tom Konrad chiming in here on his take regarding the long term action. Seems pretty much like what we already ascertained.
http://www.forbes.com/sites/tomkonrad/2012/11/26/mockumentary-this-is-western-wind/?partner=yahootix
mayo and teddog, y'all have been here as well for a long time and I appreciate all your contributions along the way as we have been a very small public crew of supporters.
Thanks alot guys. Its been a long journey but a steady overall appreciation and its quite possible that the things we were seeing since 09 and onwards might finally find the light of the market in general. The fundies have been solid, a bunch of the action has been real head-scratching, and its not been easy to understand why nor stomach at times thats for sure.
May the winds continue to blow fair for us here.
LOL. 4.50? Now thats more like it.
Haha .. my eyes saw '4.50' and news ... I was immediately thinking something else... perhaps soon!
Q3 earnings are due today, so that's probably his topic.
Jeff will be on BNN at 4.50est today with news of somesort
WNDEF is one of my few investments where I've averaged up on an already large position ... very glad I did so!
No news in this article today ... but kudos for Spinal tap reference "Mockumentary: This is Western Wind".
http://www.forbes.com/sites/tomkonrad/2012/11/26/mockumentary-this-is-western-wind/?partner=yahootix
Scorching on real good volume for the US market. Nice.
A Sunday reply to the offer from Brookfield. Strange. Should sure up the staging zone at 2.50 again I would think.
VANCOUVER, Nov. 26, 2012 /CNW/ - Western Wind Energy Corp. - (the "Company" or "Western Wind") (TSX Venture Exchange - "WND") (OTCQX - "WNDEF") today responds to a press release issued on November 23, 2012 by Brookfield Renewable Energy Partners L.P. ("Brookfield"), which announced Brookfield's intention to make an offer to acquire all of the outstanding common shares of Western Wind for cash consideration of C$2.50 per share (the "Brookfield Offer").
On July 30, 2012, the Company announced that it would be seeking a buyer for the Company and its assets, and that the board of directors of the Company (the "Board") had established a special committee (the "Special Committee"). On August 10, 2012, the Company announced that it had engaged Rothschild (Canada) Inc. ("Rothschild") as its lead financial advisor to manage and structure a comprehensive and efficient auction process, with PI Financial Corp. ("PI Financial") engaged as a co-advisor.
Several days after acquiring its interest in the Company, representatives of Brookfield visited the Company and raised the prospect of the Company entering into a bilateral agreement to sell the Company to Brookfield with customary deal protections, including the right of Brookfield to match other offers. Rather than have Brookfield potentially stifle the auction process, the Company instead invited Brookfield to join that process. Despite several attempts to accommodate their requests, Brookfield refused to sign a customary non-disclosure and standstill agreement that was entered into by other auction participants. Brookfield did not return direct calls from the Company and subsequently attended the AGM on September 25, 2012 together with members of the dissidents and their advisors.
On October 24, 2012, the Company announced that the auction process was progressing as planned, with a limited number of bidders having been invited to conduct a second round of very extensive due diligence, as well as the addition of new participants as the proxy battle caused at least 8 weeks of delay in the auction process due to the uncertainty caused by a proxy battle.
The Company would like to highlight that some of the initial expressions received from auction participants that are currently conducting due diligence in the second round of the process, would imply a value significantly greater than that which Brookfield intends to offer.
There is no guarantee that any of the initial expressions of interest received by the Company will result in a formal offer being made or a binding agreement being entered into at this time.
Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the Special Committee of independent directors comprised of V. John Wardlow (Chair), Robert C. Bryce and Claus Andrup is to review the Brookfield Offer, when formally made, and make recommendations to the Board in respect of the Brookfield Offer and other alternatives available to the Company upon the conclusion of the auction process.
The Company cautions its shareholders that no action is required by Western Wind shareholders at this time. The Company is in the process of considering and evaluating the announcement, and shareholders are urged to take no action until Western Wind has issued further communication with respect to the announcement and the Brookfield Offer.
Jeff Ciachurski, CEO of Western Wind Energy states "It is my personal opinion the Brookfield offer is too low, and I am committed to obtaining a better price for the shareholders than presently offered by Brookfield vis-a-vis a thorough sales process. We are committed to a transparent, thorough and robust auction process. Rothschild has been nothing short of first class in demonstrating efficiency, integrity and professionalism. The Western Wind shareholders deserve a complete process whereby the highest bids with the greatest likelihood of execution are submitted to the shareholders. The shareholders have voted for a thorough and meaningful process that will maximize the results of the sales process. The Brookfield offer is disruptive to a thorough sales process."
Good digging! here's WND's response:http://tmx.quotemedia.com/article.php?newsid=56139822&qm_symbol=WND. More to come tomorrow, but this should boost the stock price.
Thanks alot Wayne, nice dig. However, this offer is way too low. Perhaps it is a base for negotiations. Us shareholders already rejected Algonquins offer of 2.50/share last November.
Wow. Didnt see any news, but thats the same offer that was rejected last October from Algonquin. You have a link to this "offer"?
This is a bonus the co is in in great shape and the bids are being kept prety quiet, I still figure the co is worth 6 bucks MY opinion only.
Yes sir, the quarterly report is due and should be reported anytime now.
Being as the company is for sale and the only project in construction phase is Yucoba solar project in Puerto Rico (which has its own tax incentives regardless of US renewal or not) I dont think it is a huge factor.
That said I have stated several times that I feel the renewal of the tax credit would add some value to the worth of Western Wind for their suitable lands already owned and leased. There are projects that have been shelved for now that could be started by a takeover company, like the Snowflake project in AZ. Bottom line, with the extension of the tax credits I think the company becomes more attractive.
Aren't earnings due to be reported today/soon? Also, the renewal of the wind tax credit creates a lot of uncertainty.
Yeah, a bit of weakness for sure. Im holding out. Nothing has fundamentally changed here.
We are kind of in a free fall here. Hope they get something going here
It is widely anticipated that the Obama administration will soon announce the extension of tax credits for wind for another year. At least that is what was reported in the Arkansas Democrat Gazette this morning. LM manufactures wind blades in Little Rock and workers have been laid off as production had been halted waiting on this extension, or not.
Theres no way to ascertain when that will be. However, I dont think we will hear any announcement until after the elections and it becomes clear whether or not the US govt intends to renew the tax credits set to expire Dec 31st.
With WNDEF owning/leasing additional lands suitable for development, the tax credit incentives still play a part in the overall worth of the company, therefore until there is clarity on the status of tax credit renewal (or not) I dont expect to see any bidders nor the company finalizing any deal.
When do think they might release potential buyer information? Do think it should happen next month. I know they are on there second DD round but i think that should not take long.
It wasn't about wndef in particular the artical was that he was looking at 2 wind farms in our area, hopefully one was ours
I was wondering that myself, The artical was on stockhouse .com wnd site i am not sure who posted it.
Do you have a link to that article? I was reading in our local Sunday paper yesterday, the Arkansas Democrat Gazette, about two local wind blade manufacturers here in our state being in a bit of a stalemate wondering if the renewable tax credits for wind energy development will be renewed by expiration of Dec 31,2012 or not.
I am of the opinion that Western Wind assets are worth a fair amount more with the renewing of the tax credits, not for any added worth to current producing assets nor Puerto Rico assets (they have their own tax incentives in place regardless of US action or not) but for lands owned/leased already that have been proven feasible for future development.
The sale could stall awhile. Im pondering all aspects here and trying to be pragmatic here regarding this element of the equation, what about the assets in variant degrees of development?
I read an artical on the midwest renewabale energy co of BH taking an interest in western wind But so have 16 other companys
Unsure as to who you are referring exactly. Did you mean Berkshire, as in Berkshire Hathaway?
Bershire has taken an intrest in the co as they are already a owner of wind and solar energy companys.They are one of the co to take a inquireing package so I have heard.
4-5 is logical teddog. 4.25 is approx 70% of book value and my target.
4-5 is logical teddog. 4.25 is approx 70% of book value and my target.
In the real world i am looking for 4-5 that would be a nice return
i am a dreamer but they have payed for some oil property in the kansas area. Far more than other co have payed, Also wishful thinking
Thats pretty dreamy sir.
I am hopeing for a bid from a chinese co for 1.4 billion if that is the dream
Patience is very hard for some folks. This 2.50 range is a very logical level to sit while we wait on developments to be announced regarding bid offers. Algonquin already offered 2.50/share last October so I think its fair to say that is the absolute minimum.
As mayo pointed out, they probably wont say X company offered X per share and Y company offered specific amount, most likely wont see any final figures until sale is finalized.
However, I wouldnt be surprised to hear something along the lines of X,Y, and Z companies have submitted bids for our assets, and they are all significantly higher than Algonquins bid. Thats what I am hoping for.
Patience is a hard thing in the investing market. I think anyone who waits for the bids will be rewarded
Looks like dissident sellers provided some entry points for those on the other side of the fence or those adding to positions on the news.
Whatever the reason for the midday drop, sellers were absorbed easily on good volume for this relative sleeper.
I'm not surprised to see it drop today as those backing the dissidents express their disappointment. But, let's hope that's short-lived and the upwards march continues after selling pressure has run its (short) course!
Good points and I dont know if they would disclose bid offers in detail or not.
Early market reaction is some US investor just dumped 500 shares. Go figure.
I think the rejection of the dissidents is a very strong move, but what do I know compared to the mighty market.
Would WWE publicize bids? Is that cricket? I'd think they'd have to keep all that very confidential, but there's always the "unnamed source"!
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