Thursday 26 May 2011

Total extends deadline for solar purchase

Oil and gas firm Total has pushed back the deadline for the deal to buy 60% of SunPower.

Last month, Total announced a $1.4bn bid for stock from the Californian-based solar firm, which has been developing solar technology since the 1970s.

Total's extension of the cash tender offer means the companies now have until June 14 to finalise the agreement.