Tesla makes bid to buy SolarCity for as much as $2.78 billion

Tesla has made an offer to acquire SolarCity, the solar energy company Elon Musk cofounded.
In a blog post announcing the deal, Tesla says it has offered to buy the company for “approximately 21% to 30% over the closing price of SolarCity’s shares.” SolarCity closed the day with a market cap of $2.14 billion — a 30 percent premium could mean a purchase price of $2.78 billion.
Following the announcement SolarCity’s stock jumped by more than 22 percent, while Tesla’s stock fell more than eight percent.
 
More to follow.
 
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Tesla makes bid to buy SolarCity for as much as .78 billion
Tesla makes bid to buy SolarCity for as much as .78 billion



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