Shares of SunEdison Inc (NYSE: SUNE) surged more than 18 percent after the renewable energy firm announced a settlement with TerraForm Power Inc (NASDAQ: TERP) over the termination of SunEdison's acquisition of Latin America Power.
The financial terms of the settlement include total payment of $28.5 million to be made by SunEdison. The settlement resolves all of the disputes among the parties regarding termination of acquisition of Latin America Power.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The parties have agreed that the arbitration proceeding between the parties will be terminated upon final payment, the related action filed in New York state court will be dismissed without prejudice.
The settlement imposes no payment obligations on TerraForm Power. None of the parties has admitted to any wrongdoing or liability with respect to the claims asserted in the arbitration and New York state court action.
SunEdison shares were up $0.26 at $1.78, while TerraForm fell 1 percent to $9.36. Shares of SunEdison have plunged 65 percent year-to-date, while TerraForm's slipped 26 percent.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.