10.5 C
Fort St. John
Friday, April 19, 2019
9924 101 ave Fort St. John, B.C.
Home Canadian Press Canadian Solar CEO seeks to take it private in cash deal, board...

Canadian Solar CEO seeks to take it private in cash deal, board considering


GUELPH, Ont. — Canadian Solar Inc. of Guelph, Ont., has received a non-binding takeover offer from its chairman, Shawn (Xiaohua) Qu, who is also the company’s CEO and president.

Qu is tentatively offering US$18.47 in cash for each share not already owned by him and his wife.

That’s about seven per cent above Friday’s closing price of US$17.25 on Nasdaq, when Canadian Solar was worth about US$1 billion.

- Advertisement -

Founded in 2001, Canadian Solar is one of the world’s largest solar power equipment manufacturers and solar utility developers.

The Canadian Press

get the latest news in your inbox



Local Events

Must Read

BC Wildfire Service reminding residents to use caution when burning outdoors

PRINCE GEORGE, B.C. - With Northeastern B.C. experiencing warm and dry weather conditions, the B.C. Wildfire Service is asking residents and industry personnel to...