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Vivint Solar ends merger with SunEdison, deal valued at $2.2b Rooftop solar panel installer Vivint Solar Inc said on Tuesday it had terminated an agreement under which it would have been taken over by solar energy company SunEdison Inc after SunEdison failed to consummate the deal. SunEdison agreed to buy Vivint, which is controlled by Blackstone Group LP, on July 20 in a cash-and-stock deal valued at about $2.2 billion. As part of the deal, SunEdison “yieldco” TerraForm Power Inc had agreed to buy Vivint‘s rooftop solar portfolio for $799 million, revised down from $922 million under pressure from activist hedge fund Appaloosa Management. Appaloosa Chief Executive David Tepper has been calling on TerraForm Power to “resist” the Vivint deal, saying it was a departure from the company’s business model and would put shareholders at risk. Vivint said it intended to “seek all legal remedies available” as a result of the “willful breach” of the merger agreement by SunEdison. SunEdison shares were down 6.3 percent at $1.78 in premarket trading, while Vivint‘s were down 6.9 per cent at $4.85. SunEdison said in December it expected the Vivint deal to close in the first quarter of 2016. QUELLE |
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| aus der Diskussion: | Blackstone Group - erfolgreicher Finanzinvestor |
| Autor (Datum des Eintrages): | sirmike (08.03.16 22:34:23) |
| Beitrag: | 143 von 170 (ID:51935160) |
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