Solaria Shares Surge as Firm Is Said to Draw Takeover Offers (1)

Shares of Spain’s Solaria Energia y Medio Ambiente SA soared the most in eight months after the solar developer was said to receive unsolicited takeover approaches as investors look for bargains in the sector.

The company, valued at about €1.5 billion ($1.6 billion), in recent months has rebuffed interest from potential buyers because their price was too low, according to people familiar with the matter who asked not to be identified discussing non-public information.

It wasn’t immediately clear if those suitors had walked away or if Solaria would explore strategic options after receiving takeover interest. A spokesperson for the company ...