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SunEdison Agrees to Amended Deal for Vivint

SunEdison shares, down 79% this year, rose 19% to $4.12 in recent trading. Vivint recently rose 14% to $9.55 and Blackstone traded at $30.96, up 3.2%.

SunEdison Chief Executive Ahmad Chatila said in prepared remarks that “given the recent market volatility, we believe the modified agreement is in the best interest of all parties.”

The big solar-power developer in July agreed to buy residential solar-system company Vivint Solar for about $1.9 billion in cash, stock and notes. Including debt, the deal was valued at $2.2 billion. As part of that deal for Vivint, a TerraForm Power Inc. TERP 28.29 % subsidiary will buy Vivint’s rooftop solar portfolio from SunEdison for $922 million in cash in a so-called dropdown transaction. Under the amended accord, a purchase...