Shares of beleaguered Solar giant SunEdison (SUNE) soared over 15% Monday, following rumors that the company was considering a buyout from Rockefeller Brothers Fund—a company that has recently moved away from oil investments.
That lifted SunEdison’s stock up from the company’s 15-year closing low on Thursday.
But sorry bullish investors—the rumors are likely untrue, as the alleged author of the piece on Briefing Wire, Ioana Madalina Iacob, retweeted on Twitter that her publication, DebtWire, had nothing to do with the piece.
https://twitter.com/AndrewRagsly/status/714472795313455105
The Briefing Wire piece, published on Sunday, alleged that the rumors of a takeover “surfaced from anonymous yet trusted source,” and said that “industrial conglomerate Rockefeller Brothers Fund has solar operations and by some accounts, the nearly limitless potential in new, clean, and renewable energy.”
SunEdison also revealed Monday that it would temporarily suspend stock contributions to the retirement savings plans of it’s directors and executives, which will last until the company is up to date with its Security and Exchange filings, according to a regulatory filing Thursday.
SunEdison has struggled to with multiple lawsuits stemming from it’s mergers and acquisitions binge over the past years. The stock itself has cratered close to 96% over the past 12 months, and has also recently delayed its annual filing due to “material weaknesses.”
When asked for a comment regarding the rumors, representatives from SunEdison said “we decline to comment on market rumors and speculations.”
