Why Sunrun and Vivint Solar Stocks Soared Today
Shares of Sunrun (NASDAQ: RUN) and Vivint Solar (NYSE: VSLR) surged on Tuesday after the two companies agreed to a merger that could create a new solar energy titan. By the close of trading, Sunrun and Vivint Solar's stocks were up 23% and 38%, respectively.
Sunrun is seeking to acquire Vivint Solar in an all-stock deal that values Vivint at $3.2 billion. Vivint's shareholders would receive 0.55 shares of Sunrun stock for each Vivint share they own.
Shares of Sunrun and Vivint Solar rose sharply on Tuesday on news of a potential merger. Image source: Getty Images.
Source Fool.com
