Tesla Motors Shares Plunge On SolarCity Bid

June 22, 2016

Tesla Motors’ stock touched a nearly four-month low Tuesday evening after the Palo Alto, California, maker of electric cars offered to acquire SolarCity in a stock deal valued at as much as $2.8 billion. Tesla co-founder and CEO Elon Musk, who is also co-founder and chairman of the solar energy company, called the bid “blindingly obvious”…

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