SunEdison to spin off semiconductor business in solar push

(Reuters) - SunEdison Inc said it would spin off its semiconductor business in an initial public offering and use the proceeds to build solar farms. Shares of the company, formerly known as MEMC Electronic Materials, jumped 23 percent in morning trade on Thursday, their steepest rise in one year. SunEdison said it plans to sell a minority stake in the newly formed SunEdison Semiconductor to the public in the offering, which is scheduled for early 2014. ...



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