Solar City Shareholders Upset Over Merger Bid - (via NewsPoints Desk) August 1, 2016 Tags: NewsPoints SolarCity Tesla United States Corporate Affairs Mergers & Acquisitions
SolarCity Corp. shareholders are upset with the purchase of the Company by Tesla. SolarCity shareholders will receive 0.110 Tesla common shares per SCTY share, valuing SCTY common stock at $25.37 per share. The shareholders contend that Elan Musk who owns approx. 22.5% of SolarCity is having Tesla purchase his company, and that the purchase price is insufficient in light of the company's growth prospects.
SolarCity did not immediately respond to requests for a comment.
To contact the law firm handling on behalf of shareholders of SolarCity for more information call toll free 800.511.7037
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