21 Nov '11, 3pm

Urban Legend: First Solar as M&A Target for GE: Like albino alligators living in New York City sewers, the urb...

Urban Legend: First Solar as M&A Target for GE: Like albino alligators living in New York City sewers, the urb...

Like albino alligators living in New York City sewers, the urban legend of General Electric (or some other large conglomerate) acquiring First Solar (Nasdaq: FSLR) is a recurring meme. The idea bordered on outlandish when the company's stock was trading at a 52-week high of $175.45 with a market cap of more than $15 billion. But with the stock currently trading at $45.44 per share and a market capitalization of $3.93 billion, the firm starts to look like a potential takeover target. At a 25 percent to 40 percent premium, a First Solar deal would cost General Electric $5 billion to $6 billion or just 3 percent of GE’s $168 billion market capitalization. Note that despite the plunge in market cap and the struggles in the solar industry, First Solar had net sales of more than a $1 billion last quarter at a gross profit of 37.7 percent. The firm is immediately accretive in a b...

Full article: http://www.greentechmedia.com/articles/read/Urban-Legend-...

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