M&A
confidence high
sentiment positive
materiality 0.80
Brookfield, La Caisse acquire Boralex for $37.25/sh, $9.0B EV
Brookfield Asset Management Ltd.
- Cash consideration of $37.25/share, 31.8% premium to March 20 close and 36.4% to 30-day VWAP.
- Total enterprise value of $9.0B ($9.7B combined basis); equity value ~$3.8B.
- La Caisse (current ~15% holder) will vote for deal and increase stake to 30%; Brookfield to hold 70%.
- Boralex operates ~3.8 GW of renewable assets with >90% contracted; pipeline of 8.2 GW.
- Transaction expected to close by Q4 2026, subject to shareholder & regulatory approvals; termination fee $115M, reverse $172M.