Elon Musk and Tesla Motors have reached agreement on a pure share deal with another Musk company, SolarCity, which values the latter at 2.6 billion, writes CNBC.
Solar City-holders are according CNBC 0110 Tesla shares per SolarCity-stock transaction.
the price is based on five-day volume weighted price for Tesla shares until July 29, writes TDN Finans.
the value SolarCity equities to $ 25.37 per share. The stock ended the comparison at $ 26.70 Friday.
That’s according to TDN expected that trade be completed during the fourth quarter of 2016.
Part of masterplan
Tesla has recently announced that they will pony up $ 2.8 billion for solar cell manufacturer Solar City where Musks cousin Lyndon Rive, the CEO.
In the message which the acquisition was announced said Tesla that an acquisition will be able to offer a complete solution to meet all customers’ energy needs with clean energy.
The acquisition of the company has previously been featured in Musks masterplan.
Tesla boss is also chairman and the largest individual shareholder of Solar City.
Not final
the agreement is according to E24 not final, but implies that SolarCity gets 45 days in which to look for potentially better offers in a so-called “go shop” period.
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