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Tesla, SolarCity Shareholders Approve Merger

Investors have seen the vision of Elon Musk — and they buy it.

By Louis Hansen, The Mercury News

FREMONT – Investors have seen the vision of Elon Musk — and they buy it.

Tesla and SolarCity shareholders on Thursday approved a $2.1 billion, all-stock merger between the two green energy tech firms led by Musk. The merger pushes forward Musk’s plan to create an economy weaned from carbon fuels and dependent on renewable resources.

“Thanks for believing,” Musk wrote online after the vote. The company said about 85 percent of independent shareholders approved the transaction. A complete tally will be filed with the Securities and Exchange Commission.

 

Vote tally shows ~85% of unaffiliated shareholders in favor of the Tesla/SolarCity merger! Thanks for believing.

— Elon Musk (@elonmusk) November 17, 2016