Wilson Sonsini Reps Total In $1.4B SunPower Deal

Law360, New York (April 28, 2011, 8:23 PM EDT) -- French oil company Total SA on Thursday revealed plans to buy a majority stake in SunPower Corp. for nearly $1.4 billion and to provide up to $1 billion of credit support to the solar panel giant.

Total said its wholly owned subsidiary would soon launch a “friendly” tender offer of $23.25 per share for up to 60 percent of Sunpower's outstanding Class A common stock and 60 percent of its Class B common shares.

Philippe Boisseau, president of Total's gas and power division, said the deal...
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