"Tesla is ready to scale our Powerwall and Powerpack stationary storage products and SolarCity is getting ready to offer next-generation differentiated solar solutions."Companies are assuring the end users that it will try it best to save customers money by lowering hardware costs, reducing installation costs, improving our manufacturing efficiency and reducing our customer acquisition costs. The all-stock deal values SolarCity at about $2.6 billion, with SolarCity stockholders will receive 0.11 share of Tesla for each share of SolarCity, valuing them at $25.83 apiece, according to Friday’s closing prices. The deal’s value comes in lower than the range of $26.50 to $28.50 per share Tesla had proposed in June. This new deal when executed, will double Tesla’s workforce to nearly 30,000 employees and create a unique combination of solar, storage and transportation.
“It’s really all part of solving the sustainable energy problem, That’s why we are all doing this to accelerate the advent of a sustainable energy world.”-said Mr. Musk As per the information from other sources, if either company backs out of the deal without another offer in place, it would owe the other a $78.2 million termination fee, if SolarCity terminates the tie-up to enter into another merger before the expiration the go-shop period, the termination fee owed to Tesla will be $26.1 million. Tesla will provide second-quarter financial results on Wednesday after the market closes.
India Coronavirus Cases Update 173,763 Total 4,971 (2.9%) Deaths 82,370 (47.4%) Recovered
31 May 2020, 12:33 PM (GMT)