April 28, 2011 / 8:24 PM / 6 years ago

UPDATE 1-Total to take majority stake in SunPower

* Total to launch tender for 60 pct of SunPower shares

* Will pay $23.25 a share

LOS ANGELES, April 28 (Reuters) - French energy company Total SA (TOTF.PA) said it would take a majority stake in U.S. solar company SunPower Corp SPWRA.O.

In a joint statement, the companies said Total would launch a tender offer for up to 60 percent of SunPower’s outstanding Class A common shares and 60 percent of its Class B common shares for $23.25 a share.

The price represents a 46 percent premium over SunPower’s April 27 closing price, the companies said. SunPower shares closed at $16.12 Thursday on the Nasdaq. The stock was halted in extended trading. (Reporting by Nichola Groom; and Andre Grenon)

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