Hedge fund manager D.E. Shaw and Co said it may make a non-binding proposal for SunEdison Inc's (SUNEQ.PK) stake in Terraform Power Inc (TERP.O), according to a regulatory filing on Friday.
D.E. Shaw and Co was evaluating various deals with the two companies which could result in a controlling stake in Terraform Power. (bit.ly/2egBvvm)
In August, Reuters reported that the hedge fund manager was weighing a bid for SunEdison's controlling stake in TerraForm Power, the bankrupt company's most valuable asset, according to sources.
TerraForm Global Inc (GLBL.O) and TerraForm Power Inc (TERP.O), the "yieldcos" of bankrupt solar company SunEdison Inc, said in September that they were exploring strategic alternatives, including a sale of their entire business.
(Reporting by Vishaka George in Bengaluru; Editing by Shounak Dasgupta)