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.
11:29 PM IST
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
)
Rs 13 Lakh Lump Sum Investment in Mutual Funds: How many years will it take to create a Rs 1 crore, Rs 2 crore & Rs 3 crore corpus?
)
Best Multi Cap and Flexi Cap Mutual Funds with Highest SIP Returns in 3 years: Rs 25,000 monthly investment in No. 1 fund has grown to Rs 13.5 lakh in just 3 years
)
9 Stocks To Buy For Short Term: Analysts suggest buying largecap, midcap, smallcap scrips for 2 weeks; Godrej Consumer on the list
)
Pay 0 Income Tax on Rs 15.25 lakh Income: Why your Rs 15,25,000 salaried income can be tax-free in new tax regime
)
SBI vs Canara Bank 10-year FD For Senior Citizens: Compare maturity of Rs 3.5 lakh- Rs 6.5 lakh deposits in both PSU banks
11:29 PM IST