"Stock god" Buffett recently repeatedly revealed great enthusiasm in a letter to shareholders he had described as "shotgun cartridges again loaded, ready to buckle trigger finger is itchy." Mergers and acquisitions. View, Buffett shotgun sight or have "wars" the once the photovoltaic leading enterprise in China Suntech.
Bloomberg reported that Warren Buffett's MidAmerican Energy Holdings Company may be interested in the acquisition of Wuxi Suntech Power Co., Ltd.; Trina Solar Limited, chairman of the same day, said the company is expected to start from June to profitability. Boosted by the above message, Suntech Power (STP) 8 listed on the NYSE the lead PV stocks listed in the U.S. collective soaring, Suntech and Trina Solar (TSL) rose 15.63% and 7.56% respectively. 9, 2011, listed on the HKEx solar stocks rose generally about 5%.
According to Bloomberg, "the Hong Kong Economic Times and its media quoted anonymous news that Warren Buffett's MidAmerican Energy Holdings Company intends to acquire Suntech. On March 20, China Wuxi Intermediate People's Court ruled that under the Bankruptcy Act, Suntech Power Co., Ltd., a bankruptcy reorganization. March 18, Suntech Power Co., creditor banks joint Suntech bankruptcy reorganization application submitted to the Wuxi Intermediate People's Court.
As of the end of February, the foreign currency credit balance of nine creditor banks, including ICBC, Agricultural Bank of China, Bank of China, Suntech has reached 71 billion RMB. Suntech shares have fallen 25 percent since March 18, , MidAmerican Energy Company has investments in California and Arizona solar project. MidAmerican Energy CFO Patrick Goodman said the company is looking for a renewable energy trading objectives. As of correspondents of press time, MidAmerican Energy declined to comment on takeover rumors.
On April 8, the Chinese solar power inverter manufacturer Trina Solar Chairman Gao Jifan With the rising demand for green energy, as well as part of the enterprise production can be eliminated, the situation of the global oversupply of PV products have attend Boao Forum improve this year, the overall trend of China's photovoltaic industry will be better than last year, is expected to get rid of loss Trina Solar is expected to start from June, better than analysts had made the company the fourth quarter of 2014 was likely to profitability expected.
Gao Jifan years of industry-wide losses, some companies have been eliminated, industry overcapacity situation is improving. At the same time, China's solar panels for salesolar energy market is growing, the proportion of total sales this year, Trina Solar domestic market is expected to rise to 25% from 10% last year. Trina Solar currently holds $ 920 million in cash, debt ratio of about 67%, lower than the industry average of 80%.
By the negative impact of overcapacity and Europe may take anti-dumping measures on Chinese solar panel in February, Trina Solar announced a loss for the sixth consecutive quarter. AxiomCapitalManagement analyst Gordon Johnson, Chinese PV companies inability to extension of existing loans, they put a face massive bankruptcy situation.