Solarpack’s Shares Surge 40% After EQT’s $1.1 Billion Bid

Solarpack Corporacion Tecnologica SA’s shares surged more than 40% after private-equity firm EQT AB said it would make an 881 million euro ($1.1 billion) bid for the Spanish company.

EQT’s Infrastructure V fund is offering 26.50 euros a share for the renewable-energy firm, a 45% premium over its closing price on Tuesday. Solarpack’s stock rose 43% to 26.15 euros at 10:23 a.m. in Madrid, while rivals such as Solaria Energia y Medio Ambiente SA and Grenergy Renovables SA also gained.

The high premium underscores how investors are keen to invest in solar, one of the world’s fastest-growing power sources ...