Latest news with #Emeren
Business Wire
5 hours ago
- Business
- Business Wire
SOL Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Emeren Group Ltd. Is Fair to Shareholders
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Emeren Group Ltd. (NYSE: SOL) to Shurya Vitra Ltd. for $0.20 in cash per ordinary share or $2.00 in cash per American Depositary Share is fair to Emeren shareholders. Halper Sadeh encourages Emeren shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@ or zhalper@ The investigation concerns whether Emeren and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Emeren shareholders; (2) determine whether Shurya is underpaying for Emeren; and (3) disclose all material information necessary for Emeren shareholders to adequately assess and value the merger consideration. On behalf of Emeren shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
Time of India
10 hours ago
- Business
- Time of India
Emeren Group to go private in $103 million deal
Renewable energy firm Emeren Group said on Thursday it will go private in a $102.6-million deal with a company backed by its chairman, Himanshu Shah . Shurya Vitra , a company incorporated in the British Virgin Islands, will buy Emeren for $2 per American Depositary Share in cash. Shah has committed to providing the funding needed for the acquisition through an equity investment in Shurya Vitra. An uncertain economic environment and elevated capital costs have pushed some small- and mid-cap firms to go private, which allows them the flexibility to navigate the difficulties without the pressure of public markets . Shurya Vitra's offer is priced at a 12.4 per cent premium to Emeren's last close, and a 23.5 per cent premium to its share price in March before it disclosed it had formed a special committee to evaluate a buyout proposal received earlier that month. The deal is expected to close in the third quarter.
Reuters
28-03-2025
- Business
- Reuters
Solar company Emeren gets takeover proposal, says CEO to step down
March 28 (Reuters) - Renewable energy company Emeren (SOL.N), opens new tab said on Friday it has formed a special committee to evaluate a buyout proposal it received earlier this month. The company did not disclose the name of its potential acquirer or the price, if any. It had a market capitalisation of $83.14 million as of Thursday's close. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. Emeren also said CEO Yumin Liu would step down effective April 30 and that Julia Xu would be interim CEO until a successor was named. The solar project developer added that it expects an adjusted operating loss of about $4 million for the first quarter and that it expects to report full results in mid-May.
