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

VivoPower

17/09/2024 18:36

(Updates)
    ** Shares of power infrastructure developer VivoPower
 VVPR.O  down as much as 28.3% at $1.37, set for their worst
session since Oct. 6, 2023
    ** 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;))