Shares of SunEdison Inc (NYSE:SUNE) jumped as much as 14% in early trading Wednesday after hedge fund manager David Einhorn got a seat on the board of directors.
So what: SunEdison has appointed Claire Gogel, a former partner at Einhorn's Greenlight Capital, to be an independent director. The company also agreed that for two years the company wouldn't issue any new equity without a supermajority vote of the board of directors.
Now what: What investors are really cheering today is David Einhorn's increased involvement in SunEdison, a company he has about a 6.8% stake in. He could provide some valuable credibility to the company with other investors. ....
www.fool.com/investing/general/2016/01/27/...popped-today.aspx
So what: SunEdison has appointed Claire Gogel, a former partner at Einhorn's Greenlight Capital, to be an independent director. The company also agreed that for two years the company wouldn't issue any new equity without a supermajority vote of the board of directors.
Now what: What investors are really cheering today is David Einhorn's increased involvement in SunEdison, a company he has about a 6.8% stake in. He could provide some valuable credibility to the company with other investors. ....
www.fool.com/investing/general/2016/01/27/...popped-today.aspx