SunPower (SPWR) acquires Total (TOT) subsidiary Tenesol SA for $165.4M concurrent with a deal...

|About: SunPower Corporation (SPWR)|By:, SA News Editor

SunPower (SPWR) acquires Total (TOT) subsidiary Tenesol SA for $165.4M concurrent with a deal under which Total agrees to purchase 18.6M shares of SunPower common stock in a private placement at $8.80/share - marking a 50% premium to yesterday's close. After the sale of Tenesol, Total will own close to 66% of SunPower's common stock. Shares of SPWR +26.2% premarket, TOT +2.5%.