During Friday’s Morning trade, Shares of TerraForm Power Inc (NASDAQ:TERP), gained 4.52% to $12.95.
TerraForm Power, declared the closing of its acquisition of 832 megawatts (net) of wind power plants from Invenergy Wind LLC (“Invenergy”), the largest independent wind owner in the United States. A second closing for an additional 98 MW (net) of power plants is predictable by April 2016. This acquisition adds a sizeable, high-quality contracted power plant portfolio to the TerraForm Power fleet.
“The addition of these high-quality wind power plants further strengthens the TerraForm Power fleet,” said Brian Wuebbels, TerraForm Power’s chief executive officer. “It improvements our fleet size by 48%, from 1.9 GW to 2.8 GW. On a pro forma basis, it extends our average remaining contract life from 16 years to 17 years. It improves the average counterparty credit rating from A- to A, and it improvements our North America focus with the US and Canada now representing 83% of the total fleet, up from 75% at the end of the third quarter.”
TerraForm Power, Inc. owns and operates solar and wind generation assets serving utility, commercial, and residential customers. As of February 20, 2015, its portfolio comprised of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with an aggregate nameplate capacity of 1,507.3 megawatt.
Shares of Newell Rubbermaid Inc. (NYSE:NWL), declined -0.38% to $44.66, during its current trading session.
Newell Rubbermaid (NWL) and Jarden Corporation (JAH), declared that they have reached a definitive agreement to combine the two companies. The transaction creates a $16 billion consumer goods company to be named Newell Brands, with a portfolio of leading brands in large unmerged categories, counting Paper Mate®, Sharpie®, EXPO®, Parker®, Elmer’s®, Calphalon®, Rubbermaid®, Graco®, Baby Jogger®, Aprica®, Goody®, Irwin®, Lenox®, Rubbermaid Commercial Products®, Coleman®, First Alert®, FoodSaver®, Jostens®, K2®, NUK®, Oster®, Rawlings®, Sunbeam® and Yankee Candle®. The scaled enterprise is predictable to accelerate profitable growth with leading brands that compete in a global market that exceeds $100 billion, with business and capability development supported by the efficiencies of this transformational combination.
“The combination of these two great companies creates a $16 billion consumer goods company with incredible potential to grow and create value,” said Michael B. Polk, Newell Rubbermaid President and Chief Executive Officer. “The scale of our combined businesses in key categories, channels and geographies creates a much broader canvas on which to leverage our advantaged set of brand development and commercial capabilities for accelerated growth and margin expansion. I have long respected the value creation track record and entrepreneurial vision of Jarden’s founder, Martin E. Franklin, co-founder Ian G.H. Ashken, and their team led by Chief Executive Officer James E. Lillie. I want to congratulate Jim on his strong leadership of Jarden over the last twelve years and his work positioning the business for the opportunity ahead, and I look forward to working with Martin and Ian as we drive the new Newell Brands towards its aspiration of becoming one of the preeminent consumer goods companies in the world.”
Newell Rubbermaid Inc. manufactures and markets consumer and commercial products worldwide. It operates through five segments: Writing, Home Solutions, Tools, Commercial Products, and Baby & Parenting. The Writing segment offers writing instruments, such as markers and highlighters, pens, and pencils; art products; fine writing instruments; and labeling solutions under the Sharpie, Paper Mate, Expo, Parker, Waterman, and Dymo Office brand names.
Finally, Medtronic PLC (NYSE:MDT), lost -1.44%, and is now trading at $76.79.
Medtronic plc (MDT), declared it will take part in the 34th Annual J.P. Morgan Healthcare Conference on Monday, January 11, 2016, in San Francisco, California.
Omar Ishrak, chairman and chief executive officer of Medtronic, will make a formal presentation on the company startning at 9:30 a.m. PST (11:30 a.m. CST).
Medtronic plc manufactures and sells device-based medical therapies worldwide. The company’s Cardiac and Vascular Group segment offers pacemakers, implantable cardioverter defibrillators, implantable cardiac resynchronization therapy devices, AF products, diagnostics and monitoring devices, and remote monitoring and patient-centered software; and heart valves, percutaneous coronary intervention stent products, surgical valve replacement and repair products, endovascular stent grafts, and peripheral vascular intervention products.
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