Green light to the marriage between the two companies founded by Elon Musk. The board of directors of SolarCity approved the merger with Tesla Motors, which he had put on the plate $2,6 billion in stock.
Musk should thus be able to create a global giant of clean energy, capable of selling electric cars (Tesla) powered with solar energy (sector in which SolarCity operates).
For every share of SolarCity, valued at $25,83, shareholders will receive 0,11 shares of the auto company's common stock. Tesla has a market capitalization of $32,7 billion, while SolarCity has about $2,1 billion.
In addition to being CEO of Tesla, Musk is chairman of SolarCity and is the largest shareholder of both companies. In the premarket, SolarCity shares they rise by 7,4% to 28,68 dollars, while those of Tesla they dropped 0,1% to $234,50. This is the largest agreement reached in the solar energy sector.
