Mangrove Partners Now Officially Active At Atlantic Power
Owning 7.5%, Mangrove is now an activist at Atlantic Power.
Over the past several months, the Reporting Persons have been engaged in discussions with certain members of the Issuer’s management and board of directors (the “Board”) regarding the Reporting Persons’ views and analysis of the Issuer.
On April 24, 2015, the Reporting Persons had a telephonic meeting with the President and Chief Executive Officer of the Issuer to discuss the composition of the Board, during which the Reporting Persons requested Board representation.
The reported thesis is to push for a share repurchase and a possible break-up or sale.