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Solar energy company Sunrun to buy peer Vivint Solar for about $1.46 billion

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U.S. residential solar installer Sunrun Inc said on Monday it will buy peer Vivint Solar for about $1.46 billion in an all-stock deal.

Vivint Solar shareholders will receive 0.55 shares of Sunrun for each share held, the companies said in a statement, representing a premium of 10.4% to Vivint’s Monday close.Sunrun’s shareholders will hold about 64% of the combined company, with the rest owned by Vivint Solar’s stockholders.Credit Suisse Securities was the financial adviser to Sunrun, while Morgan Stanley and BofA Securities advised Vivint.

Vivint Solar in May reported an adjusted loss of $1.01 per share in its first-quarter results while withdrawing its full-year forecast. Sunrun posted a net loss of 23 cents per share for the same period. Business Insider reported in April that Sunrun had laid off at least 100 workers and furloughed another 60 due to the impact of the coronavirus outbreak.Our Standards:

 

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The kicker: in some locations, you might buy solar for your home, but you can’t sell it with your home. Contract states it’s still owned by solar company and it doesn’t transfer to new owners!

Big mistake! Solar is not going anywhere!!!

Globalists desperate to get rid of their worthless dollars. Great to watch !!! 🤣 🤣 😅

Whatevet sun it wants to call. It can't live without china.

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