Shares of Sunrun (NASDAQ:RUN) and Vivint Solar (NYSE:VSLR) surged on Tuesday after the two companies agreed to a merger that could create a new solar energy titan.
Sunrun is seeking to acquire Vivint Solar in an all-stock deal that values Vivint at $3.2 billion.
Vivint's shareholders would receive 0.55 shares of Sunrun stock for each Vivint share they own. .
If this deal goes through as planned, a combined Sunrun and Vivint would be well positioned to play a leading role in the solar industry's long-term expansion