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US: SolarCity agrees to Tesla’s offer

By  |  August 1, 2016

SolarCity Corp agreed to Tesla Motors Inc’s $2.6 billion offer to buy the solar panel installer, clearing one obstacle in the way of plans for a carbon-free energy and transportation company.

Tesla’s offer only represents about half of SolarCity’s value a year ago, reflecting the solar company’s slowing growth, complex financial structure and the increased scrutiny of government incentives for rooftop solar.

Tesla’s stock swap offer valued SolarCity at $25.37 a share, or $200 million less than the initial proposal outlined in June, before advisers to the companies had done due diligence.

Full Content: Reuters

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