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Monday, November 17, 2014

SunEdison, TerraForm Power to purchase First Wind for $2.4 bln, (NYSE: SUNE)

SunEdison Inc and unit TerraForm Power Inc said they would purchase wind power developer and operator First Wind for $2.4 billion. The companies said the deal comprises $1.9 billion in upfront payment and $510 million earn-out.The deal is expected to close during the first quarter of 2015.TerraForm was created by SunEdison to own and operate its solar power plants.

SunEdison Inc, formerly MEMC Electronic Materials, Inc. Shares of SUNE fell by 1.89% or $-0.32/share to $16.61. In the past year, the shares have traded as low as $11.11 and as high as $24.35. On average, 12033800 shares of SUNE exchange hands on a given day and today's volume is recorded at 11827250.