Oct. 16 (Bloomberg) — U.S. Geothermal Inc. gained the most
in more than four months after the Boise, Idaho-based renewable-energy developer said it will acquire privately owned Earth
Power Resources.
U.S. Geothermal climbed 12 percent to 52 cents at the close
in New York, the most since May 29.
The company is exchanging 692,769 shares for all
outstanding shares of Tulsa, Oklahoma-based EPR, which will have
no debt or obligations when the deal closes, according to a
statement today. Shareholders are expected to approve the
acquisition by the end of November, U.S. Geothermal said.
U.S. Geothermal is gaining EPR’s project database and
geothermal leases that cover more than 26,000 acres in Nevada.
The deal includes three projects with total capacity ranging
from 158 megawatts to 359 megawatts.
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Robin Saponar, Jim Efstathiou Jr.