Tesla-SolarCity clean energy powerhouse gets official approval
Tesla's shareholders approved its acquisition of SolarCity on Thursday, taking a big step toward the creation of what Elon Musk says will be the world's clean energy powerhouse.
More than 85 percent of Tesla's shareholders approved the deal, the company said in a press release. The transaction will be completed in the "coming days."
The two companies agreed to the acquisition in July.
The merger values the rooftop solar installer at $2.6 billion. Musk is CEO of Tesla and chairman of both companies, which has attracted some scrutiny from analysts and investors.
The "end-to-end" clean energy company would produce solar power on rooftops, store energy in battery packs and then power houses and cars.
Topics Sustainability Elon Musk
Emma Hinchliffe is a business reporter at Mashable. Before joining Mashable, she covered business and metro news at the Houston Chronicle.
