April 4, 2025

New York-based investment advisor Starboard Value seeks FERC approval for change of control of Algonquin Power & Utilities Corp.

Starboard Value, which owns nearly 9% of Algonquin’s common shares, will have one of its senior executives appointed to Algonquin Power’s board.

Boardroom Shuffle: Starboard Value LP, an investor in undervalued companies, and Ontario, Canada-based Algonquin Power & Utilities Corp. jointly filed an application with FERC on April 1, seeking approval to appoint Gavin Molinelli, Starboard's Senior Partner and Co-Portfolio Manager, to Algonquin Power's board. This appointment stems from a cooperation agreement between the two companies and comes as Starboard Funds currently ...

Details:

Filing Date: April 1, 2025

Docket Numbers:

EC25-73

Short Summary:

Starboard Value LP, an investor in undervalued companies, and Ontario, Canada-based Algonquin Power & Utilities Corp. jointly filed an application with FERC on April 1, seeking approval to appoint Gavin Molinelli, Starboard’s Senior Partner and Co-Portfolio Manager, to Algonquin Power’s board. This appointment stems from a cooperation agreement between the two companies and comes as Starboard Funds currently own 8.66% of Algonquin Power’s common shares.

Impact Level:

Categories:

Dealmaking & Transactions

Tags: Executive Appointments

Entities: Algonquin Power & Utilities Corp., Starboard Value LP

Markets:

Regions:

States:

Regulators: FERC

Courts:

Documents:

Board Appointment – Application