Array and Shoals Agree to $1.32 Billion Merger
Array Technologies and Shoals Technologies agreed to merge in an all-stock deal valuing Shoals at $1.32 billion. The combination unites solar equipment and electrical infrastructure businesses to cut costs.
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ARRAY TECHNOLOGIES INC agreed to merge with SHOALS TECHNOLOGIES GROUP -A in an all-stock deal valuing Shoals at $1.32 billion. The transaction combines structural solar equipment with electrical infrastructure products to expand product offerings and cut costs. Shoals shareholders will receive 1.6931 Array shares for each share owned, representing a per-share value of $7.86.
