Vivint Solar terminates $2.2B deal with SunEdison

Utah-based solar panel installer Vivint Solar announced today it terminated its agreement to be acquired by Saint Peters-based SunEdison Inc.

SunEdison agreed last July to buy Vivint in a cash-and-stock deal valued at $2.2 billion. It was expected to close this quarter.

Vivint officials said SunEdison failed to uphold its end of the bargain. The company claims SunEdison didn't fulfill a condition of the loan deal because it failed to provide officials with up-to-date financial statements.

Read more from the St. Louis Business Journal.