Tesla Wants to Buy SolarCity For $2.8B
SolarCity shares surged Wednesday morning after Tesla said it would buy the solar panel maker for $2.8 billion.
SolarCity (SCTY) shares surged Wednesday after Tesla (TSLA) - Get Report said it would buy the solar panel maker for $2.8 billion. Tesla CEO Elon Musk says the company would pay up to $28.50 a share for solar city. Tesla shareholders appear to disagree with Musk's strategy as shares of the electric car maker are falling double digits on Wednesday. In a statement, Tesla says, 'It's now time to complete the picture.' Tesla says that SolarCity would help improve Tesla's recently launched energy-storage department Tesla Energy.
This article was written by a staff member of TheStreet.
