Friday, November 18, 2016

Tesla’s shareholders approved the SolarCity acquisition - Recode

Charging ahead

"More than 85 percent of shareholders voted to approve the acquisition, according to a Tesla spokesperson.

The deal wasn’t exactly guaranteed to happen. Since Tesla CEO Elon Musk made his offer to buy the solar panel company his cousin Lyndon Rive is the head of for $2.6 billion in stock in August, the deal has been scrutinized by a number of shareholders — seven of whom filed lawsuits against Musk for breaching his fiduciary duty for not disclosing the proposed merger appropriately.

Despite criticism from some of its shareholders, the company decided to move forward with the deal."
Tesla’s shareholders approved the SolarCity acquisition - Recode
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