One of the best places to get the news is through SEC filings by public companies. In our top two stories today, you get the behind the scenes view on employee matters (Terraform) and how the sausage is made in mergers (SolarCity & Tesla). As the merging companies put the motions in place to schedule their special shareholder meetings to get the needed approvals for the acquisitions, they also disclose how the talks on the acquisition got started. Interestingly, SolarCity ran somewhat of a process to see if other investors would be interested in acquiring the company or entering into another agreement. It’s rare that such a process can stay quiet in our space to hats off to Lazard for that. On the other hand, someone at Lazard apparently made a $400million error in their model. The filing for the Tesla acquisition of SolarCity is here and the employee items at Terraform is here.
- PV-Magazine: TerraForm Power holds on to SunEdison staff, changes terms on notes
- Fortune: 5 Things We Just Learned About the Tesla-SolarCity Deal
- Bloomberg: Musk Talked Merger With SolarCity CEO Before Sale of Stock
- Forbes: U.S. Solar Panel Factory Adds to Morocco’s Green Energy Foundation
- SolarWakeup: Florida, For The Win! Now What’s Next?
- Desert Sun: Rooftop solar industry, Imperial Irrigation District strike last-minute compromise
- Business Journals: Complaint filed against Hawaiian Electric on solar project mismanagement
- Las Vegas Review Journal: Nevada regulators say SolarCity can’t participate in rate hearings
Opinion
Have a great day!
Yann