By Josh Beckerman
Shares of VivoPower International were higher after the company said it was in advanced deal negotiations with Abu Dhabi's Energi Holdings.
VivoPower stock was up 63%, to $3.68, midday Wednesday and is up about 177% this year.
The London company and Energi have agreed to complete negotiations on price, terms and conditions before April 2.
On Monday, VivoPower said it received a non-binding takeover offer from Energi with an $120 million enterprise value.
VivoPower's operations include Tembo, an electric utility vehicle for sectors such as mining, agriculture and utilities, and Caret Digital, a solar-energy business that recently began Dogecoin-mining operations.
The company has been working on a deal to combine Tembo E-LV with blank-check company Cactus Acquisition Corp. 1 and a plan to spin off Caret via a direct Nasdaq listing.
Energi's operations include storage terminals, infrastructure and logistics for renewable fuels, crude oil, petroleum products, chemicals, and vegetable oil.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
March 26, 2025 14:54 ET (18:54 GMT)
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