- TerraForm Power (NASDAQ:TERP) +5.3% and TerraForm Global (GLBL) +1.4% premarket after the SunEdison (OTCPK:SUNEQ) spinoffs say they are evaluating potential strategic alternatives, including a merger or sale of their entire businesses (I, II).
- The companies say they are open to considering transactions involving a new sponsor, including through negotiation of new sponsorship arrangements or through assumption of SUNE's existing sponsorship agreements.
- SUNE may require bankruptcy court approval on decisions such as how to vote its shares in TERP and GLBL.