Tesla, SolarCity could announce merger as soon as Monday: report
A merger between Tesla Motors Inc. and SolarCity Corp. could be announced as soon as Monday, Reuters reported, citing sources. The deal is expected to include an option that will leave the residential solar-power company open to seek other offers for a period of time after the agreement with Tesla is signed. Talk of a tie-up has been in the works for weeks, and Tesla Chief Executive Officer Elon Musk is heavily invested in SolarCity. Recently, Musk laid out his "Master Plan" for Tesla, in which he sees a future with electric trucks and buses, and autonomous electric car-sharing networks with renewable energy powered by SolarCity. Neither Tesla, nor SolarCity could immediately be reached for comment.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.