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SunEdison Emerging as Solar ‘Supermajor’ With $2.2 Billion Deal

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SunEdison Inc. said it will reinforce its position as one of the “supermajors” of the solar industry with the $2.2 billion purchase of rooftop panel installer Vivint Solar Inc.

The two agreed to combine for cash, shares and debt that value Vivint at 52 percent more than Friday’s closing share price. SunEdison will finance the deal with credit lines from Goldman Sachs Group Inc. and by selling $922 million of assets to TerraForm Power Inc., the unit it formed last year to own and operate power plants.