Friday 19 January
Powered by Ajaxy
Nov 18, 2016 @ 10:08

Tesla Seals $2 Billion SolarCity Deal

 

Tesla Motors Inc. and SolarCity Corp. shareholders approved the electric-car maker’s purchase of the solar installer in a deal that’s poised to test Elon Musk’s vision for a viable one-stop shop for clean energy consumers.

More than 85 percent of Tesla shares voted in favor of the deal, according to a company statement Thursday, which said SolarCity shareholders also approved the acquisition. The deal, valued at about $2 billion, integrates the maker of Model S and upcoming Model 3 sedans with the installer of rooftop solar panels.

Shareholders are signing off on Musk’s plan to combine and more efficiently run two companies that have a track record for fleeting profits and frequent fundraising needs. Tesla has lost about $4.8 billion in market capitalization since its initial offer to buy SolarCity on June 21, while the latter company’s value declined by about $86 million.

Tags: , ,

Related Stories
A former oil services firm executive accused by Tesla Motors Inc. of impersonating Elon Musk
Elon Musk showcased his ambitions to make Tesla Motors Inc. a clean-energy behemoth Friday, unveiling
Elon Musk has brushed off doubts about his plan to marry Tesla Motors Inc. and
A fresh version of Autopilot software that Tesla Motors Inc. unveiled Sunday emphasizes radar over


Read full Article here »

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - bilyonaryo.com.ph.