It’s over. Tepper wins again.
The inability of SUNE to close the deal caused Vivint to back out and terminate.
Epic merge fail.
06:01 | VSLR | (5.21)
Vivint Solar terminates merger agreement with SunEdison (SUNE)
The co stated that it delivered a letter to SunEdison (SUNE) last night notifying it that, as a result of SunEdison’s failure to meet its obligations under the merger agreement pursuant to which the Company was to have been acquired by SunEdison, Vivint Solar has terminated such agreement.In particular, SunEdison’s failure to consummate the merger when required pursuant to the terms of the merger agreement constitutes a willful breach of the merger agreement, and Vivint Solar intends to seek all legal remedies available to it in respect of such willful breach.
SUNE is racing higher. VSLR, not so much.
All clear for take off. Your boy Teppers lawsuit is also out of the way. 30% short float, might be a nasty unwind