Boralex Jumps as Analysts See Potential Deal at $6.3 Billion

Analysts covering Boralex Inc. say potential buyers may have to bid C$39 per share or more in a takeover, representing a premium of over 30% from where the stock was trading before Bloomberg News reported the firm is exploring a sale.

The Montreal-based renewable power company confirmed Monday that its board has formed a special committee to review and recommend strategic alternatives. Boralex is working with Canadian banks to handle proposals, but the deliberations are early and there’s no guarantee of a deal.