Pattern Energy Group Inc. has received takeover interest from suitors including Brookfield Asset Management Inc., Bloomberg News reported Aug. 12, citing people familiar with the matter.
According to the report, Brookfield is considering the idea of combining Pattern Energy with its sponsored company TerraForm Power Inc.
Pattern Energy is said to be working with a financial adviser, but no decision has been made, and the company may choose to remain independent, according to the report.
Pattern Energy shares closed 7.94% higher on brisk volume on Aug. 12, to $25.15.
In reporting its second-quarter 2019 results on Aug. 6, Pattern Energy CEO Michael Garland said the company was for the time being going to steer away from solar asset acquisitions. The company has a portfolio of wind and solar assets in the U.S., Canada and Japan.