Elon Musk will not vote on Tesla’s (TSLA) acquisition of SolarCity (SCTY), shareholders...

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Sep 28, 2016

Today, Tesla (TSLA) announced that it submitted an offer to acquire SolarCity (SCTY), the US’ leading installer of solar installations. Elon Musk is the largest individual shareholder of both companies. Due to is obvious interest in the deal, which is already being called a bailout by some shareholders, Musk decided to recuse himself from the vote at both companies and leave it toTesla and SolarCity shareholders to decide on the possible consolidation of ‘Musk Industries’. more…

Filed under: Cars, Energy Sources, Solar, Tesla Tagged: Elon Musk, SCTY, shareholders, SolarCity, Tesla, tesla acquisition, tesla solarcity, TSLA, tsla scty

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