Vivint Solar Inc. announced Tuesday it will scrap plans to be acquired by SunEdison Inc. in a $1.9 billion deal.
SunEdison, the world’s biggest developer of clean-energy projects, failed to meet obligations that would have finished the transaction, Vivint said in a statement. The deal was delayed, renegotiated and challenged in court, and SunEdison had said it expected to close before the end of this month.
Vivint fell 6.9 percent to $4.85 before the start of regular trading in New York. SunEdison rose 34 percent to $2.55.
Read more: Bloomberg