Posted AT 10:38 AM EST on 15/10/07
Li Ka-shing firm snaps up TransAlta Power for $629-million
CALGARY — TransAlta Power LP has agreed to be taken over by Cheung Kong Infrastructure Holdings Ltd. of Hong Kong in a deal worth more than $629-million in cash.
Cheung Kong, a unit of the Hutchison Whampoa conglomerate controlled by billionaire Li Ka-shing, is offering $8.38 per unit for TransAlta Power, owner of 49.
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