Needham & Company Sees SolarCity (SCTY)/Tesla (TSLA) 'Getting Done'
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August 1, 2016 11:01 AM EDT
Roth Capital affirms SolarCity (Nasdaq: SCTY) at Neutral with a $19 price target after the company and Tesla (Nasdaq: TSLA) announced entering a merger agreement today.
Analst Philip Shen commented, TSLA/SCTY co-hosted a conference call providing... More
August 1, 2016 7:21 AM EDT
By Paul Lienert and Liana B. Baker
(Reuters) - SolarCity Corp (NASDAQ: SCTY) agreed to Tesla Motors Inc's (NASDAQ: TSLA) $2.6 billion offer to buy the solar panel installer, the companies said on Monday, clearing one obstacle in the way of Elon Musk's ambitious plans for a carbon-free energy and transportation company.
Tesla's offer represented about half of SolarCity's value a year ago, a tumble reflecting the solar company's slowing growth, complex financial structure and the increased scrutiny of government incentives for rooftop solar.
For Tesla, acquiring... More
August 1, 2016 7:04 AM EDT
SolarCity (NASDAQ: SCTY) posted the following to its Blog on Monday:
Just over a month ago, Tesla made a proposal to purchase SolarCity and today we are announcing that the two companies have reached an agreement to combine, creating the worlds only vertically integrated sustainable energy company.
Solar and storage are at their best when theyre combined. As one company, Tesla (storage) and SolarCity (solar) can create fully integrated residential, commercial and grid-scale products that improve the way that energy is generated, stored and consumed.
Now is the... More
