Tesla Makes Offer for SolarCity, Oil Rises, 'Brexit' Vote to the Wire

Electric car maker Tesla (TSLA) - Get Report  wants to buy SolarCity (SCTY)  for up to $2.8 billion in an attempt to create a one-stop shop for cleaner energy. Tesla said it offered $26.50 to $28.50 per share for SolarCity. The price is 25% to 35% premium to the solar company's Tuesday close. If the deal goes through, SolarCity will adopt Tesla's name and sell its solar panels alongside power-storing batteries. Oil prices are back above $50 a barrel on speculation that U.S. stockpiles will be lower. The U.S. Energy Information Administration will release its closely watched inventory data later today. Supporters and opponents of "Brexit' go into the 11th hour of campaigning today before voting begins in Britian tomorrow. Investors are betting that Britian will remain in the E.U. with the pound surging and European stocks higher. Polls, however, say the race is too close to call.