Tesla, SolarCity Shareholders Approve Merger

By Markets MarketWatch Pulse

Tesla Motors Inc. shareholders late Thursday approved the electric-car maker's acquisition of SolarCity Corp. . Excluding the votes of CEO Elon Musk and other affiliated shareholders, more than 85% of shares voted were cast in favor of the acquisition, Tesla said. SolarCity shareholders also approved the merger, and the transaction will be completed in the coming days, Tesla said. "We would like to thank our shareholders for continuing to support our vision for the future. We look forward to showing the world what Tesla and SolarCity can achieve together," Tesla said in a statement. Shares of SolarCity rose 1.1% in late trading, after ending the day up 2.9%, while shares of Tesla fell 0.1% after ending the regular trading day up 2.6%.

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