One of the most controversial deals of the last year has been terminated, and solar firms SunEdison and Vivint will not get together.
This is the best news possible for SunEdison. The company’s stock has been battered since the $1.9 billion deal was announced in July. The terms of the acquisition revealed to investors that SunEdison’s complicated financial structure was hiding the company’s poor cash position.
The stock is up 24% in premarket trading on this news.