U.S. investors seek TransAlta vote on Brookfield deal: G&M

U.S. activist investors want Calgary-based power company TransAlta Corp to postpone an annual shareholders’ meeting and hold a vote on its deal with Brookfield Asset Management, according to a report by the Globe and Mail.

In March, TransAlta agreed to receive $750 million from Brookfield to use toward becoming a clean energy producer by 2025.

Mangrove PartnersBluescape Energy Partners and Cove Key Management argue the deal undervalues the company’s assets and prevents the potential for better opportunities, the Globe said.

Mangrove applied to securities regulators, requesting a vote among shareholders without an interest in the transaction.