- Tepper's Appaloosa Management sought to block Vivint deal
- Delaware judge rejected injunction on purchase Thursday
Billionaire hedge fund manager David Tepper said he’s considering his options after a judge rejected his request to block part of a $1.9 billion clean-energy deal.
He expects to make a decision by Monday, after reviewing transcripts from a conference call Thursday when Delaware Chancery Court Judge Andre Bouchard declined to impose an injunction on the deal.
The ruling clears a path for SunEdison Inc. to move forward with its purchase of Vivint Solar Inc., a complicated and contentious deal that has been delayed amid criticism from investors. As part of the transaction, SunEdison’s TerraForm Power Inc. yieldco unit agreed to buy $799 million of Vivint’s assets. Tepper’s Appaloosa Management LP is TerraForm’s third-biggest shareholder and he filed suit in January to block that part of the acquisition.
“I’m waiting to see what the judge actually said,” Tepper said in a phone interview Friday. “We’ll have a response on Monday after we see the transcript.”