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Trina Solar Limited (NYSE: TSL) rose more than 11 percent on Monday. The stock is rising following its announcement that it received a buyout offer placing its valuation at over $980 million. The company's current market cap is below $900 million. The entire industry is rallying following the takeout offer and a ground-breaking climate deal signed in Paris on Tuesday. Movers SunPower Corporation (NASDAQ: SPWR) soared on Monday afternoon from the Trina Solar deal. The stock rose by 8.17 percent to $23.29 on heavy trading volume. Sunedison (NYSE: SUNE) is also moving, along with First Solar (NASDAQ: FSLR) and TerraForm Power (NASDAQ: TERP). The Business One of the major challenges faced by Chinese solar companies today in selling panels in the EU is the fixed minimum price. Trina Solar will still continue to serve European customers through its overseas manufacturing facilities. In every country within this space, solar trade relations have stirred challenges trying stabilize local interests. Solar companies in China have suffered as an earlier result, because of the low panel prices and anti-dumping ("AD") duties in place. These factors have been imposed by Europe and the United States on solar panel imports with attempt to better protect the domestic solar market from from low-priced Chinese products. What The Proposal Says The proposal letter discloses that a buyer group composed of the company's CEO Jifan Gao and Shanghai Xingsheng Equity Investment & Management would purchase all remaining Trina Solar shares for $0.232 in cash per ordinary share, or $11.06 in cash per ADS -- a premium of 21.5 percent above the closing price of the company on December 11. See more from Benzinga © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Trina Solar Ltd.
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CODE : TSL |
ISIN : US89628E1047 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Trina Solar is based in China. Trina Solar is listed in United States of America. Its market capitalisation is US$ 3.1 billions as of today (€ 2.7 billions). Its stock quote reached its highest recent level on April 22, 2016 at US$ 9.99, and its lowest recent point on January 16, 2018 at US$ 0.01. Trina Solar has 449 180 000 shares outstanding. |