VivoPower International (VVPR) said Wednesday it is in advanced talks with Abu Dhabi-based Energi Holdings on an unsolicited all-cash takeover bid for $120 million.
Negotiations between VivoPower's board and Energi are expected to be completed by April 2, the company said.
VivoPower said Energi proposed to acquire all non-affiliated free float shares, pending due diligence.
Shares of VivoPower jumped more than 95% in recent Wednesday trading.
Price: 4.43, Change: +2.17, Percent Change: +95.88
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