Tesla To Buy SolarCity For $2.6B

By Editorial Staff Tesla has reached an all-stock deal worth $2.6 billion to buy SolarCity, ending more than a month of talks and bringing together the electric-car maker with a solar panel company to create the world’s first vertically integrated clean energy company.The all-stock transaction is valued based on the 5-day volume-weighted average price of Tesla shares as of 29 July 2016. Under the agreement, SolarCity stockholders will receive 0.110 Tesla common shares per SolarCity share, valuing SolarCity common stock at $25.37 per share based on the 5-day volume weighted average price of Tesla shares as of 29 July2016. The original proposal was

Read Full Article Here

For more great articles: Electric Cars Report

(Visited 11 times, 1 visits today)

Comments

comments



© 2014 RenewaNews