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8Point3 Slumps After Its Owners, First Solar and SunPower, Agree to Sell

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By Brian Eckhouse and Mark Chediak

February 6, 2018 at 6:00 AM UTC

Updated on

February 6, 2018 at 5:41 PM UTC

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8Point3 Energy Partners LP, a renewable-energy venture formed by America’s two largest solar manufacturers, fell the most on record Tuesday, a day after its owners agreed to sell it for a price below its market value.

Swiss asset manager Capital Dynamics AG agreed to buy 8Point3 for $977 million, less than its market value of about $1.1 billion as of Monday. 8Point3 shares fell as much as 15 percent, the most intraday since they began trading in June 2015. They were down 12 percent to $12.16 at 12:34 p.m. in New York.