MEMC Acquires SunEdison For $200M

Law360, New York (October 23, 2009, 2:20 PM EDT) -- MEMC Electronic Materials Inc. has reached a definitive agreement to acquire SunEdison LLC for an initial closing price of $200 million, with the possibility of another $140 million to be paid later.

The $200 million will be paid to SunEdison's security holders in 70 percent cash and 30 percent MEMC stock. The agreement, announced Thursday, includes an $89 million earnout provision if SunEdison reaches certain performance targets in 2010, $17 million in cash in employee retention payments and another $34 million in stock if SunEdison meets...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.