Tesla confirms SolarCity takeover

Tesla Motors (Palo Alto, California, U.S.) on August 1st, 2016 confirmed the acquisition of the solar power provider SolarCity Corp. (San Mateo, CA US) in an all-stock transaction.
SolarCity shareholders will receive 0.110 shares of Tesla for each share of SolarCity valued USD 25.37 per share, based on the 5-day volume weighted average price of Tesla shares as of July 29th, 2016. Total transaction value is estimated at USD 2.6 billion.

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