VivoPower dips on $1.13 bln deal to merge with Canadian hydrogen technology firm

VivoPower

17/09/2024 15:12

** Shares of power infrastructure developer VivoPower
 VVPR.O  down nearly 8% at $1.74 in early trading
    ** VVPR announces all-stock merger with Canada's hydrogen
technology company Future Automotive Solutions and Technologies
(FAST)
    ** Deal would create a $1.13 billion combined company
    ** VivoPower shareholders are expected to own 49% of the pro
forma combined group upon completion of merger
    ** Proposed merger to involve VVPR issuing 5.72 million
restricted new shares to FAST shareholders
    ** Up to Monday's close, stock had risen ~9% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))