Tesla's Acquisition of SolarCity Receives Shareholder Approval

Tesla's Acquisition of SolarCity Receives Shareholder Approval

Tesla's shareholders have overwhelmingly approved our acquisition of SolarCity. Excluding the votes of Elon and other affiliated shareholders, more than 85% of shares voted were cast in favor of the acquisition. With SolarCity's shareholders also having approved the acquisition, the transaction will be completed in the coming days.

tesla.com

I don't think the acquisition successfully proceeding should surprise anyone, but the 85% majority of approving shares just might! Predictions for just how many shareholders would back the deal were universally on the conservative side, and the stock of both companies slid when the acquisition was first announced. It slid even more when SolarCity revised their 2016 projections downward after the initial offer.

Regardless of all the babble about shares and approvals, it won't be long before you can walk into a Tesla store, or hit up their website and order a car and a full-service energy system to fuel it, and your home.

Update: Here's a link to a YouTube video of the Q&A