Behind TerraForm Power Inc's 37% Share Pop Today

Behind TerraForm Power Inc's 37% Share Pop Today

Brookfield Asset Management's (NYSE: BAM) buyout of TerraForm Power Inc (NASDAQ: TERP) is now complete, and the stock had a strange move higher today. According to Yahoo! Finance, shares are up 37% today, which is technically true based on yesterday's closing price, but it's not quite true for the full value shareholders are holding today. 

The buyout offered shareholders a special dividend of $1.94 per share and either $9.52 per share in cash or a share of the new stock. Depending on how investors elected to be paid, Brookfield would prorate the transaction. 

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Source: Fool.com