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Tesla buys SolarCity in biggest solar power deal
short by Pragya Swastik / on Monday, 1 August, 2016
Electric vehicles maker Tesla on Monday bought US-based solar energy company SolarCity in a $2.6 billion all-stock deal, making it the biggest ever solar power deal to date. SolarCity stockholders will receive 0.11 share of Tesla for each SolarCity share. The combined entity will make solar panels, home battery storage systems and electric cars under a single brand.
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