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Ormat to buy U.S. Geothermal for $110M

Jan. 24, 2018 9:27 AM ETUS Geothermal Inc (HTM) StockBy: Carl Surran, SA News Editor11 Comments
  • U.S. Geothermal (NYSEMKT:HTM) +28% premarket after Ormat Technologies (ORA) agrees to acquire the company for $5.45/share, a 28.5% premium to the stock's closing price yesterday that values the company at ~$110M.
  • HTM operates geothermal power projects in Oregon, Nevada and Idaho for a total designed net output of 45 MW, and is developing additional projects in California, Nevada and Guatemala; ORA says it expects to improve profitability of the operating projects by ~50% during 2019 through improvements to the acquired portfolio and implementation of synergies and cost reductions.

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