Market Overview

Trina Solar Receives Preliminary Non-Binding Proposal to Acquire the Company


Trina Solar Limited (NYSE: TSL) today announced that its board of directors (the "Board") has received a preliminary non-binding proposal letter, dated December 12, 2015, from Mr. Jifan Gao, Chairman and Chief Executive Officer of the Company, and Shanghai Xingsheng Equity Investment & Management Co., Ltd. (together with Mr. Jifan Gao, the "Buyer Group"), a subsidiary of Industrial Bank Co., Ltd. incorporated in the People's Republic of China, to acquire all of the outstanding shares of the Company not owned by the Buyer Group, including ordinary shares represented by American depositary shares (the "ADSs", each representing 50 ordinary shares), for $0.232 in cash per ordinary share, or $11.6 in cash per ADS, which represents a premium of approximately 21.5% above the closing price of the Company's ADSs on December 11, 2015 and a premium of approximately 20.2% above the average closing price of the Company's ADSs over the last 90 trading days. A copy of the proposal letter is attached hereto as Exhibit A.

The Board has formed a special committee consisting of two independent directors, Messrs. Sean

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Posted-In: News M&A Press Releases


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