Tesla wins US antitrust approval to buy SolarCity

Tesla said in July after it made its first offer that by acquiring SolarCity the two companies would form a one-stop clean energy shop.

Tesla wins US antitrust approval to buy SolarCity
The logo of U.S. car manufacturer Tesla is seen in Zurich. Photo: Reuters

Tesla Motors Inc has won US antitrust approval to buy solar panel installer SolarCity Corp, the Federal Trade Commission said on Thursday.

The deal was on a listing of proposed transactions that won quick approval because the merging companies have few or no overlaps.

Tesla said in July after it made its first offer that by acquiring SolarCity the two companies would form a one-stop clean energy shop, offering consumers solar panels, home battery storage and electric cars under a single brand. The deal was announced on Aug. 1.

The share prices of both SolarCity and Tesla were up 0.2% on Thursday.

SolarCity has come under pressure from rivals offering low-cost solar energy through large, utility-scale installations, and because some state governments have reined in subsidies that encouraged rooftop solar.

Neither Tesla nor SolarCity immediately responded to a request for comment.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

RECOMMENDED STORIES

https://www.zeebiz.com/personal-finance/news-retirement-corpus-planning-sip-swp-monthly-pension-mutual-fund-investment-calculator-inr-rs-15000-investment-for-25-years-and-152000-income-in-month-for-30-years-tips-strategy-324109

Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years

https://www.zeebiz.com/personal-finance/news-top-gold-etf-vs-large-cap-mutual-fund-sip-cagr-10-year-return-calculator-which-has-given-higher-return-on-inr-rs-1100000-investment-ntpc-hdfc-bank-aum-nav-324073

Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations

https://www.zeebiz.com/personal-finance/news-retirement-planning-corpus-monthly-sip-investment-calculator-40-years-of-age-inr-rs-50000-expenses-what-will-be-retirement-money-inflation-rate-of-return-tips-strategy-324093

Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment

https://www.zeebiz.com/personal-finance/photo-gallery-sbi-444-day-amrit-vrishti-fd-vs-union-bank-of-india-sumvridhi-333-day-fd-maturity-return-interest-rate-calculator-amount-on-inr-rs-400000-lakh-and-800000-investment-for-general-senior-citizens-324056

SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens

https://www.zeebiz.com/personal-finance/news-epfo-vs-sip-vs-ppf-retirement-planning-corpus-interest-rate-maturity-calculator-inr-which-can-create-highest-fund-on-inr-rs-12000-monthly-investment-80c-tax-benefits-mutual-fund-equity-debt-hybrid-324023

EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus

https://www.zeebiz.com/personal-finance/news-home-loan-emi-interest-rate-repayment-vs-mutual-fund-sip-calculator-inr-rs-7000000-home-loan-emi-or-monthly-investment-for-10-years-which-can-be-easier-route-financial-planning-tips-strategy-323832

Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths

https://www.zeebiz.com/personal-finance/photo-gallery-power-of-compounding-interest-mutual-fund-sip-retirement-corpus-planning-calculator-how-many-years-it-will-take-to-reach-inr-rs-20000000-with-3000-4000-and-5000-monthly-investment-market-linked-return-323948

Power of Compounding: How many years it will take to reach Rs 2 crore corpus if your monthly SIP is Rs 3,000, Rs 4,000, or Rs 5,000

https://www.zeebiz.com/personal-finance/news-new-credit-card-rule-from-november-1-sbi-icici-bank-change-rules-check-details-324078

New Credit Card Rules From November 1: SBI, ICICI Bank change rules - Check details

https://www.zeebiz.com/markets/stocks/news-anil-singhvi-bets-on-stocks-across-banking-chemical-pharma-for-samvat-2081-hdfc-bank-sequent-scientific-abfrl-aarti-industries-epack-durable-324207

Anil Singhvi's 5 stock ideas for Samvat 2081 for stellar gains

https://www.zeebiz.com/personal-finance/photo-gallery-power-of-compounding-interest-sip-retirement-corpus-calculator-how-much-fund-can-inr-rs-10000-monthly-investment-generate-in-20-30-40-years-mutual-fund-systematic-investment-plan-324076

Power of Compounding: How much corpus can Rs 10,000 monthly SIP generate in 20, 30, and 40 years

Written By: Reuters
Updated: Thu, Aug 25, 2016
11:29 PM IST
Washington, Reuters
RELATED NEWS
SolarCity says Tesla talks delayed closing project financing SolarCity says Tesla talks delayed closing project financing
SolarCity agrees to $2.6 bln buyout offer from Tesla SolarCity agrees to $2.6 bln buyout offer from Tesla
Tesla, SolarCity set to announce merger on Monday Tesla, SolarCity set to announce merger on Monday

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x