Tesla shareholders have gradually warmed up to the deal with SolarCity following initial apprehension after Tesla announced its offer on 21 June. After dropping to below $190 per share following the offer, Tesla shares have recovered and ended trading on Friday at $234.79. Reuters first reported last week that Tesla and SolarCity were close to a merger agreement. SolarCity shares closed at $26.70 Friday. Tesla and SolarCity, which have market capitalizations of $34.6 billion and $2.6 billion respectively, declined to comment.

Source: Mint August 01, 2016 08:37 UTC