01-08-2016 23:54 via news.yahoo.com

SolarCity accepts Tesla's $2.6 billion offer; both shares fall

SolarCity Corp agreed to Tesla Motors Inc's $2.6 billion offer to buy the solar panel installer, the companies said on Monday, clearing one obstacle in the way of Elon Musk's ambitious plans for a carbon-free energy and transportation company. Tesla's offer represented about half of SolarCity's value a year ago, a tumble reflecting the solar company's slowing growth, complex financial structure and the increased scrutiny of government incentives for rooftop solar. For Tesla, acquiring SolarCity
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