TransAlta Corp. is cutting debt, speeding up its shift from coal-fired power and rewarding hard-hit shareholders with its $750-million deal with Brookfield Renewable Partners LP, chief executive officer Dawn Farrell says.
Thats why Ms. Farrell is bewildered by U.S.-based activist investors who are threatening to launch a proxy fight and force the company to renegotiate the transaction.
Typically, activists are people who want you to do transactions like this in order to increase value, Ms. Farrell said in an interview at TransAltas Calgary headquarters. I was thinking: Why wouldnt they look at this transaction and say, Wow. Awesome. Thats exactly the kind of thing we want this company to do.