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Elon Musk’s Tesla offers to acquire Elon Musk’s SolarCity for $2.8B


Spartan

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The great Elon Musk empire is uniting. Today his electric car and battery company Tesla announced its offer to acquire his solar panel installation company SolarCity. Together the companies could allow you to outfit your home with solar panels that power a giant battery for everything inside as well as your electric car.

The deal still has to be approved by SolarCity and its board. If it goes through, it would see SolarCity stock exchanged for Tesla stock. The deal would pay a premium of 21% to 30% on top of SolarCity’s value of $2.14 billion, so Tesla would be buying SolarCity for between $2.59 billion and $2.78 billion worth of its stock.

musk-empire.png?w=680&h=617

 

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Elon Musk's empire is imploding ...

stock down by 20-25$ ... 192 after day trading ...

not good news after Falcon rocket failure

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