NRG to buy Vivint Smart Home at 33% premium to Monday’s close


NRG Energy Inc. NRG, -15.10% said Tuesday it will pay $12 a share or $2.8 billion in cash for Vivint Smart Home Inc. VVNT, +32.37% and assume $2.4 billion of the company’s debt for a total deal value of $5.2 billion. The price of $12 a share is a 33% premium to Vivint’s closing share price on Monday. Shares of Vivant jumped 31% in premarket trades. The deal is expected to close in the first quarter. NRG said the transaction will fit its effort to become “the leading provider of essential services for homes and businesses.” Vivint’s products include Vivint smart hub, Vivint smart home app, Vivint doorbell camera pro, and Vivint outdoor camera pro. Shares of NRG Energy are down 5.2% in 2022 compared to a 16.1% drop by the S&P 500 SPX, -1.44%.

This article was originally published by Read the original article here.

Previous articleS&P 500 books fourth straight day of losses as U.S. stocks close sharply lower
Next articleThe Ratings Game: Apple confirms it’s one of TSMC’s first Arizona customers, while Intel preps for return to cutting edge in 2023


Please enter your comment!
Please enter your name here