BUZZ-Atlantic Power Corp: Rules out sale or merger

Tue Oct 21, 2014 10:25am EDT
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** Struggling Canadian power utility's U.S.-listed shares down 9.6 pct at $2.27, Toronto-listed shares down 10 pct at C$2.55

** Company rules out sale or merger, saying it did not receive any offers it could consider at or above share's closing of $3.04 on May 1

** Activist Clinton Group Inc urged Atlantic last week to restart sale process it called off on Sept. 16

** Up to Monday's close, company's U.S.-listed stock had fallen 34 pct since Sept. 15, a day before company removed its CEO and cut annual dividend to 12 Canadian cents per share from 40 Canadian cents