By Josh Beckerman
VivoPower International agreed to grant Energi Holdings an eight-week exclusivity period to conduct due diligence subject to Energi increasing its non-binding takeover proposal to an enterprise valuation of $180 million from $120 million.
VivoPower shares were recently up 15%, to $4.80. The stock closed at $1.29 last Friday, surging after VivoPower reported the proposal from Abu Dhabi's Energi on Monday.
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.
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 27, 2025 15:04 ET (19:04 GMT)
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