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Tesla and SolarCity merged with $ 2.6 billion acquisition

The merger between Tesla and SolarCity will create the first vertically integrated company for sustainable energy. This is defined as the objective of the acquisition operation between Tesla and SolaCity announced today.

The all-electric car maker pledges $ 2.6 billion that will allow SolarCity shareholders to receive 0.110 Tesla ordinary shares for each SolarCity share. The latter, based in San Mateo, California, specializes in the construction of high efficiency solar panels for homes, businesses and also in the supply of sustainable electricity.

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<p> By operating together Tesla and SolarCity expect savings of up to $ 150 million in the first year. The announced plan indicates improvements and upgrades for both Tesla products, especially Powerwall and Powerpack, as well as SolarCity solar panels for homes, companies and electricity supply. </p>
<p>With the merger of the two companies there will also be advantages for users who will be able to count on a single contract, reduced prices and unique solutions for the production, consumption and storage of sustainable energy.</p>
<p>Until September 14, SolaCity will be able to evaluate alternative offers and acquisition proposals to the one announced today by Tesla. The operation is not without possible complications. Elon Musk as well as being CEO and co-founder of Tesla also president of SolarCity, finally the main private shareholder.</p>
<p>Not only Lyndon Rive, SolarCity CEO Elon Musk's cousin. The acquisition is expected to be completed by the fourth quarter of this year but, as always, consideration should be given to the supervision of the supervisory bodies and institutions.</p>
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