The Tesla acquisition of SolarCity was approved by the special committee on around August 1st. While the Federal Trade Commission has approved the deal for purposes of antitrust, there are still some other steps that I believe need to happen before the real deal gets consummated. First off, the special committee approved the deal including a 45 day ‘go-shop’ period which means that SolarCity should go to market and see if a better price was available to the shareholders. Which would put the final Tesla/SolarCity deal to the shareholders on or around September 15th assuming no better bid comes in. The real test is in the SEC approval of the deal, which may not have even started yet considering the ‘go-shop’ has not yet concluded. Also, the shareholders need to vote on the transaction. The SEC could be asking some questions, particularly because on the call to discuss the acquisition, Elon Musk said the reason for the acquisition was to clear conflicts in collaboration. More to come on the deal which I still believe to clear hurdles and get to the finish line.
- Fortune: Tesla Has Won Antitrust Approval to Buy SolarCity
- CleanTechnica: Monthly US Renewable Electricity Generation In 2016 Surpasses Previous Years
- PV-Tech: France launches 3GW solar tender
- Think Progress: Jerry Brown To Sign Sweeping Extension To California’s Climate Law
- SolarWakeup: Rate Design Part 2, With Julia Pyper (And A Cool Haiti Project, Too)
- PV-Magazine: San Bernardino County rejects 287 MW Soda Mountain Solar project
- Business Journals: Duke Energy executive takes more active role in commercial solar company
- Bloomberg: China’s Golden Concord Said to Compete for SunEdison Yieldco
Opinion
Have a great day!
Yann