CALGARY - Shares in power utility TransAlta Corp. rose by more than five per cent Monday after a U.S. investment partnership revealed it has acquired a 10-per-cent stake and will be demanding board representation. Dallas-based Cove Key Bluescape Holdings announced late Friday it had bought 50,000 TransAlta shares to take its total ownership to 8.1 million, about 2.86 per cent of the outstanding stock. A TransAlta wind turbine is shown at a wind farm near Pincher Creek, Alta., Wednesday, March 9, 2016. It says shareholder value can be improved through operational and cost efficiency, asset optimization, capital allocation and broader strategic initiatives. The company’s shares gained 44 cents or 5.32 per cent at $8.71 in late-morning trading on the Toronto Stock Exchange.

Source: thestar March 18, 2019 15:33 UTC