Thomson ReutersDavid Einhorn, founder and president of Greenlight Capital, speaks during the Sohn Investment Conference in New York
(Reuters) – SunEdison Inc will give hedge fund Greenlight Capital a board seat after a decline in the solar company’s stock price and the departure of some senior officials, the Wall Street Journal reported on Sunday, citing people familiar with the matter.Greenlight, which owned about 8 percent of the company as of Jan. 11, is likely to appoint a director from outside of SunEdison, the Journal said, citing one of the people.
Billionaire investor David Einhorn’s Greenlight Capital first disclosed a stake in SunEdison in its first quarter 2014 investor letter, saying the fund had bought shares at an average price of $15.55/share.
A spokesman for SunEdison declined to comment.
Greenlight Capital could not immediately be reached for comment.
(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Jonathan Oatis)
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