Thursday, June 23, 2016

Tesla Shares Hit Hard After Offer to Buy SolarCity - WSJ

Also see Tesla’s Plan to Buy SolarCity Has Major Flaws (NYT); I'm assuming the acquisition will go ahead despite objections

"Tesla Motors Inc.’s plan to acquire SolarCity Corp. got a cold reception from investors and analysts, who raised concerns the takeover could prove a diversion for the electric-car maker and worsen both companies’ strained finances.

Tesla shares plunged by more than 10% on Wednesday, a day after it proposed an all-stock deal valuing the solar-power company at up to $2.8 billion. Both firms are unprofitable, and SolarCity lost more than 60% of its value in the past 12 months. Its shares closed 3.3% higher."
Tesla Shares Hit Hard After Offer to Buy SolarCity - WSJ
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