A PYMNTS Company

US: Tesla Clears Antitrust hurdle in $2.6 billion deal

 |  August 25, 2016

Tesla Motors moved a step closer in its bid to buy SolarCity after federal regulators said the $2.6 billion deal doesn’t present antitrust concerns.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Tesla announced plans to purchase the solar panel installer earlier this month, and Reuters says the Federal Trade Commission quickly signed off “because the merging companies have few or no overlaps.”

    SolarCity has come under pressure from rivals offering low-cost solar energy through large, utility-scale installations, and because some state governments have reined in subsidies that encouragedrooftop solar.

    The deal was on a listing of proposed transactions that won quick approval because the merging companies have few or no overlaps.

    Full Content: NPR

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.