The Chinese PV group said Jifan Gao and a subsidiary of Industrial Bank will form a consortium to offer $11.60 in cash for Trina’s shares, representing a 21.5% premium on Friday’s closing price of $9.55.
Gao and Industrial Bank plan to fund the acquisition via a mixture of debt and equity capital.
Trina Solar has set up a special committee to consider the proposal, which it stressed is preliminary and non-binding and may not lead to a definitive offer.
The
