Plug Power Acquires ReliOn for $4 Billion in Stock and Barnes & Noble Shares Fall after Liberty Media Sells Large Stake
Plug Power Inc. (NASDAQ: PLUG) has acquired ReliOn for $4 billion in stock. The company plans to integrate ReliOn's technology into its GenDrive fuel cell systems sometime this year. ReliOn develops hydrogen fuel cell stack technology and fuel cell systems, and produces backup fuel cells. ReliOn has deployed more than 5,000 fuel cell stacks to customer sites and has customers that include AT&T, Verizon, and Sprint. "One of our objectives in 2014 is to expand our fuel cell stack technology holdings to enhance our customer offerings," Plug Power president and CEO Andy Marsh said in a press release. "The addition of this technology from ReliOn is a giant step in that direction and gives us a very high-performance and high-reliability stack. We're looking forward to growing this business with the talented new additions to the Plug Power team."
Plug Power Inc., an alternative energy technology provider, is engaged in the design, development, manufacture, and commercialization of fuel cell systems for the industrial off-road markets worldwide. It is focused on proton exchange membrane (PEM) fuel cell and fuel processing technologies and fuel cell/battery hybrid technologies.
Get more information on Plug Power Inc. and free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/PLUG
Barnes & Noble, Inc. (NYSE: BKS) shares slid on Thursday as much as 14% after news revealed that John Malone’s Liberty Media is selling most of its 17% stake in the bookseller. Liberty Media had reached an agreement with Barnes & Noble to sell 90% holdings, which will result in the loss of one of its two board seats. The shares are being purchased by institutional investors, with the sale expected to close next week.
Barnes & Noble, Inc. operates as a content, commerce, and technology company in the United States. The company operates in three segments: B&N Retail, B&N College, and NOOK. It provides access to books, magazines, newspapers, and other content through its multi-channel distribution platform.
Get more information on Barnes & Noble, Inc. and free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/BKS
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