Solar Names Go Green Amid Trina Solar's Go-Private Deal

Trina Solar Limited (ADR) TSL, a China-based integrated solar power products manufacturer and solar system developer, announced on Monday it will be taken private by a consortium of investors which values the company at approximately $1.1 billion, or $11.60 per ADS.

Jifan Gao, Chairman and CEO of Trina Solar, led the consortium of investors and initially proposed the transaction back on December 14, 2015.

Monday's announcement represents a premium of 21.5 percent to the closing price of the company's ADS prior to the initial proposal in December. It also represents a premium of 40.6 percent to the closing price of Trina Solar's ADS on Friday, July 29.

The large premium on Trina Solar's ADS helped boost shares of other solar related companies, particularly those that are also China-based. Shares of JA Solar Holdings Co., Ltd. (ADR) JASO gained more than 10 percent Monday while Yingli Green Energy Holding Co Ltd (ADR) YGE gained more than 6 percent.

China-based ReneSola Ltd. (ADR) SOL also gained more than 5 percent.

Canada-based Canadian Solar Inc. CSIQ saw its stock gain around 4.4 percent as the company has a large exposure to the Chinese market through a wholly-owned subsidiary, CSI Solar Power (China) Inc.

U.S.-based solar companies didn't see their respective stocks react in a similar fashion. First Solar, Inc. FSLR saw its stock move higher by around 1 percent and shares of SunPower Corporation SPWR popped higher by just half a percent.

Meanwhile, SolarCity Corp SCTY's stock was trading lower by nearly 5 percent although the move is attributed to a major development regarding its proposed merger with Tesla Motors Inc TSLA.