On Thursday, Shares of TerraForm Power Inc (NASDAQ:TERP), lost -2.15% to $31.90.
SunEdison, Vivint Solar (VSLR), and TerraForm Power, Inc. (together with its auxiliaries, TerraForm Power) (TERP), an owner and operator of clean energy power plants, recently declared that SunEdison and Vivint Solar have signed a definitive merger agreement following which SunEdison will acquire Vivint Solar for about $2.2 billion, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes.
In connection with SunEdison’s projected acquisition of Vivint Solar, SunEdison has reached a definitive purchase agreement with a partner of TerraForm Power which, concurrently with the completion of SunEdison’s acquisition of Vivint Solar, will acquire Vivint Solar’s rooftop solar portfolio, comprising of 523 megawatts (MW) predictable to be installed by year-end 2015, for $922 million in cash (TERP Purchase Agreement). The 523 MW of residential solar projects are predictable to provide a 10 year average unlevered CAFD of $81 million, and provide a ten-year average levered cash-on-cash yield of 9.5 percent.
TerraForm Power, Inc. owns and operates solar and wind generation assets serving utility, commercial, and residential customers. As of February 20, 2015, its portfolio compriseed 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 Blue Buffalo Pet Products Inc (NASDAQ:BUFF), inclined 3.49% to $28.15, during its last trading session.
Blue Buffalo Pet Products, declared the commencement of the initial public offering of shares of its common stock following a registration statement on Form S-1, filed with the Securities and Exchange Commission. Existing stockholders of Blue Buffalo are selling 29,483,727 shares of common stock in the offering. The underwriters in the offering will have a 30-day over-allotment option to purchase up to an additional 4,422,559 shares of common stock. The estimated initial public offering price is between $16.00 and $18.00 per share. In addition, Blue Buffalo will be issuing 35,934 shares to about 1,700 non-administration employees at no cost to them.
J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are acting as joint book-running managers for the projected offering and as representatives of the underwriters. Barclays Capital Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC are also acting as joint book-running managers for the projected offering. Wells Fargo Securities, LLC and LOYAL3 Securities, Inc. are acting as co-managers for the projected offering.
Blue Buffalo Pet Products, Inc. is a pet food company in the United States, selling dog and cat food made with whole meats, fruits and vegetables, and other natural ingredients. The Company has built four product lines under its BLUE brand. The Company develops, produces, markets and sells pet food under its product lines, which comprise BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics and BLUE Freedom.
At the end of Thursday’s trade, Shares of Anadarko Petroleum Corporation (NYSE:APC), lost -0.17% to $72.54.
Anadarko Petroleum Corporation will host a conference call on Wednesday, July 29, 2015, at 8 a.m. CDT (9 a.m. EDT) to talk about its second-quarter 2015 financial and operating results. Earnings will be released after close of market on Tuesday, July 28.
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Oil and Gas Exploration and Production; Midstream; and Marketing.
Finally, Columbia Pipeline Group Inc (NYSE:CPGX), ended its last trade with -0.03% loss, and closed at $28.86.
Columbia Pipeline Group, and Columbia Pipeline Partners LP, will host a joint investor conference call at 10:00 a.m. ET (9:00 a.m. CT) on Monday, August 3, 2015, to review their second quarter 2015 financial results.
Columbia Pipeline Group and Columbia Pipeline Partners will each release its second quarter 2015 earnings before U.S. financial markets open on August 3.
Columbia Pipeline Group, Inc., together with its auxiliaries, owns, operates, and develops a portfolio of pipelines, storage, and related midstream assets. It owns about 15,000 miles of interstate gas pipelines from New York to the Gulf of Mexico; and natural gas storage systems with about 300 million dekatherms (MMDth) of working gas capacity, in addition to related gathering and processing assets.
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