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SunEdison Files for Bankruptcy After Buying Spree Sours

  • Clean energy giant spent $3.1 billion on takeovers since 2014
  • Missed deadlines, questions about liquidity dogged company
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SunEdison Files for Bankruptcy After Buying Binge

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SunEdison Inc. filed for bankruptcy protection after a two-year, $3.1 billion acquisition binge that drove its debt to unmanageable levels and sent investors running for the exits.

The clean-power giant listed $16.1 billion of debt in Chapter 11 filings Thursday in Manhattan federal court, making it the biggest U.S. bankruptcy in more than a year. While the buying spree ultimately did SunEdison in, the bankruptcy comes as energy companies of all sorts are succumbing to a slump in prices.