VANCOUVER - Brookfield Renewable Energy Partners LP (TSX:BEP.UN) is raising its all-cash offer for Western Wind Energy Corp by 10 cents per share to $2.60 and giving shareholders until Feb. 11 to tender their stock.
Brookfield said Monday that it has the support of shareholders with 22 per cent of Western Wind common stock but the offer is conditional on Brookfield receiving at least 50 per cent of the outstanding stock it doesn't already own.
Western Wind management rejected the previous offer of $2.50 per share and Brookfield said last week it had ended talks with management of the Vancouver-based company.
Brookfield Renewable said Monday that the latest price is its "best and final" offer.
"As stated in its prior releases, Brookfield Renewable will not have any further discussions with the company regarding an alternative transaction," the company said in a statement from Hamilton, Bermuda.
Brookfield Renewable is one of many publicly traded companies within the Toronto-based Brookfield group (TSX:BAM.A), which is involved in power generation, real estate and natural resources.