Citi Gives A Quick Take On Sunpower Tender Offer

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Citi comments on Sunpower Corp.(SPWR) possible takeover of TotalCiti reports, " SPWR announced that Total (TOTF.PA; €43.01; 3M), a French integrated oil and gas company with a $49B mkt cap, has launched a friendly tender offer to acquire up to 60% of Class A and B shares for $23.25 each (~50% premium). Total will also provide SPWRA with up to $1B in credit support over 5 years"Shares of Sunpower (SPWR) closed at 16.12 in trading yesterday.

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