US residential solar installer Vivint Solar has terminated plans to merge with renewables developer SunEdison.
Vivint claimed today that SunEdison has failed to “meet its obligations under the merger agreement”.
The company alleged that “failure to consummate the merger when required pursuant to the terms of the merger agreement constitutes a willful breach of the merger agreement”.
Vivint did not disclose the specifics of its claim but said it will “seek all legal remedies available”.
The proposed merger – a $2.2bn cash and stock deal – was announced in July last year.
SunEdison could not immediately be reached for comment.
Image: Vivint Solar
Vivint scraps SunEdison merger
Residential solar installer to seek 'legal remedies' over failed $2.2bn deal
By EBS