Shares of SUNE soared more than 30 percent after the bell on Thursday(2/25/16) when reports surfaced that the solar-power company defeated an injunction on a deal with its yieldco, TerraForm Power. In January, David Tepper-led hedge fund Appaloosa Management sued to prevent SunEdison's yieldco from taking over some of Vivint Solar's assets after SunEdison acquires the rooftop panel installer. TerraForm is to acquire Vivint's residential solar rooftop portfolio after SunEdison completes the Vivint transaction. Appaloosa sought "immediate injunctive relief" last month, given that SunEdison's acquisition of Vivint could close "at any time," the hedge fund said in a filing in a Delaware court.
Appaloosa LOST, SUNE WON and SUNE soared more than 30% after the bell on 2/25/16 and the Vivint deal will go through smoothly as planned. NOTE: Also, SUNE shares gained 37% to $1.72 Thursday(2/25/16), rallying after Vivint shareholders approved the deal, which was reached last July and the deal will be closed(done) this Q1 2016. SUNE will be the BIGGEST solar company when the deal is done.