Here are all of Elon Musk’s entanglements with SolarCity

Tesla, the electric car company of which Elon Musk is chairman, chief executive, and the largest shareholder (with a 26.5% stake), has just made an offer to acquire SolarCity, the clean energy company of which Elon Musk is chairman and the largest shareholder (with a 22.2% stake.)

The stock deal values SolarCity at up to $2.8 billion, or between $26.50 and $28.50 per share. That’s a premium of about 20% to 30% over SolarCity’s Tuesday closing price of $21.19.

Here are some of Elon Musk’s other entanglements with SolarCity:

Musk said on a conference call following the announcement that he is recusing himself from the vote on the Tesla-SolarCity merger.

“Of course, the shareholders will make the final decision,” Lyndon Rive said.

“This would only move forward if there’s a majority vote of the non-me shareholders in the company,” Musk added.

Shares of SolarCity jumped 17% in after-hours trading. Shares of Tesla slid 11%.

home our picks popular latest obsessions search