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June 22, 2016 12:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/3I05xVzOd54/elon-musks-tesla-plans-to-acquire-elon-musks-solarcity-for-27b-in-stock
Elon Musk's Tesla Plans To Acquire Elon Musk's SolarCity For $2.7B In Stock
An anonymous reader writes from a report via TechCrunch: Today, Elon Musk's electric car and battery company Tesla has announced its offer to buy solar panel installation company SolarCity. Now is a better time than ever to acquire SolarCity, as it recently had its value downgraded. If Tesla does acquire SolarCity, the companies could allow you to outfit your home with solar panels that power a giant battery for your various appliances, such as an electric vehicle. The deal, which has yet to be approved by SolarCity and its board, involves SolarCity's stock being exchanged for Tesla stock. TechCrunch reports that "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." The Tesla team writes, "It's now time to complete the picture. Tesla customers can drive clean cars and they can use our battery packs to help consume energy more efficiently, but they still need access to the most sustainable energy source that's available: the sun." Elon Musk has also been in the news today through OpenAI, the artificial-intelligence non-profit backed by Elon Musk, Amazon Web Services and others. OpenAI announced it is working on creating a physical robot that performs household chores.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/3I05xVzOd54/elon-musks-tesla-plans-to-acquire-elon-musks-solarcity-for-27b-in-stock
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