AT Stock Price: Atlantic Power Corp soars on news of acquisition by I Squared Capital


  • NYSE:AT surged by 39.05% to close the trading week on Friday.
  • The agreement will take Atlantic Power private and remove it from the NYSE.
  • The total value of the deal for Atlantic Powers comes in at $961 million, or $3.03 per share for shareholders. 

NYSE:AT has reached the end of the line in terms of being a publicly-traded company, and the struggling utilities firm that services the United States and Canada gave its shareholders one last surge. On Friday, before the statutory MLK Day holiday in America, Atlantic Power Corp skyrocketed by 39.05% to close the trading session at $2.92, just short of its 52-week high price of $3.00. The Massachusetts-based company has performed decently, especially considering how much utilities firms have suffered during the COVID-19 pandemic, and has returned 21.67% to investors over the past 52-weeks which has outperformed the benchmark S&P 500 index.

The agreement between Atlantic Power Corp and I Squared Capital is for a value of $961 million and will be a cash-only deal that will net shareholders a sum of $3.03 per share. The valuation represents a nice profit for shareholders as the stock has a 50-day moving average of $2.08 and a 200-day moving average of $2.04, so recent months have seen Atlantic Power Corp in a stagnant price range. 

AT stock dividend news

AT stock price chart

I Squared Capital is a private equity firm based out of Miami, Florida that specializes in global infrastructure investments, specifically in the fields of energy, utilities, transport, and telecom. The deal to acquire Atlantic Power Corporation comes on the heels of I Squared Capital’s recent acquisition of GTT Communications, an American based telecom company based out of Virginia. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Are you new to trading or have been trading for a while and you feel stuck?

Try with us!
Become Premium!
   

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD skyrockets to 1.2150 on poor US jobs figures

EUR/USD has hit a new multi-month peak above 1.2150 after the US reported an increase of only 266,000 jobs in April against nearly one million expected. The dollar is under immense pressure. 

EUR/USD News

GBP/USD soars toward 1.40 after disappointing Nonfarm Payrolls

GBP/USD has been extending its gains after the US Nonfarm Payrolls badly disappointed with an increase of only 266,000 jobs in April, nearing 1.40. Earlier, sterling benefited from the UK Conservative Party's gains in local elections. 

GBP/USD News

XAU/USD soars above $1,835 after weak Nonfarm Payrolls

Gold has leaped above $1,835 after the US reported an increase of only 266K jobs in April, far below expectations. Lower US yields support the precious metal.

Gold News

Judge reaffirms order SEC must produce documents on Bitcoin, Ether and XRP in Ripple case

Ripple's victory granted the firm access to the SEC's documents on the three leading cryptocurrencies. The regulatory agency recently denied the possession of these documents.

More Dogecoin News

S&P 500 and Nasdaq: Can the Fed pump anymore after weak jobs report

Well, that was an interesting jobs report. Not too many people were forecasting that one. Just in case you missed it NFP were forecast to come in around the 1 million jobs gained but instead the US only added 266k.

Read more

Forex MAJORS

Cryptocurrencies

Signatures