Tesla’s shareholders approved the SolarCity acquisition

  |   Tech News

Tesla’s proposal to acquire SolarCity has been approved by its shareholders, the company announced on Thursday.

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

“If the Merger is completed, SolarCity stockholders will have the right to receive 0.110 shares of Tesla Common Stock for each share of SolarCity Common Stock issued,” an S4 the company filed with the SEC on Monday read.

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