TransAlta and Mangrove Partners Resolve Litigation

Rhea-AI Summary

TransAlta Corporation (TSX: TA, NYSE: TAC) and Mangrove Partners Master Fund have reached a confidential settlement regarding a dispute over the Brookfield transaction. As time has passed, Mangrove will not challenge the fairness of the transaction anymore. Due to the confidential nature of the settlement, neither party will provide further comments or respond to media inquiries. TransAlta continues to focus on its diverse power generation portfolio in Canada, the U.S., and Australia, aiming to deliver clean and reliable energy while aligning corporate goals with sustainability.

Positive

• Settlement reached between TransAlta and Mangrove, reducing litigation risks.
• Ongoing focus on clean and affordable energy positions TransAlta favorably in the market.

Negative

• None.

CALGARY, AB, April 29, 2021 /PRNewswire/ - TransAlta Corporation (TSX: TA) (NYSE: TAC) ("TransAlta" or the "Company") and The Mangrove Partners Master Fund, Ltd. ("Mangrove") announced today that the parties have agreed to resolve this matter on a mutually acceptable basis. With the passage of time, Mangrove will no longer dispute the fairness of the Brookfield transaction. The terms of the settlement are confidential.

As the terms of the settlement are confidential, neither party will be providing any further comments and will not respond to media inquiries related to this News Release.

About TransAlta:
TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with clean, affordable, energy efficient and reliable power. Today, TransAlta is one of Canada's largest producers of wind power and Alberta's largest producer of hydro-electric power. For over 100 years, TransAlta has been a responsible operator and a proud community-member where its employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and  has been recognized by CDP (formerly Climate Disclosure Project) as an industry leader on Climate Change Management, having recently achieved an A- score from CDP.

For more information about TransAlta, visit its website at transalta.com.

View original content:http://www.prnewswire.com/news-releases/transalta-and-mangrove-partners-resolve-litigation-301280850.html

SOURCE TransAlta Corporation

FAQ

What was the settlement between TransAlta and Mangrove Partners about?

The settlement resolved a dispute over the fairness of the Brookfield transaction without disclosing the specific terms.

How does the settlement affect TransAlta's stock (TAC)?

The settlement reduces litigation risks, which may positively influence investor confidence in TransAlta's stock.

What is TransAlta's focus in its operations?

TransAlta focuses on providing clean, affordable, and reliable energy while developing a diverse fleet of power generation assets.

When was the settlement announced?

The settlement was announced on April 29, 2021.