Tesla (TSLA) and Solarcity have announced that they will have a confcall today at 8 am EST. It is about the merger between the two companies. According to Tesla´s web site the aim of the merger is to create the world´s only integrated sustainable energy company.
The merger would create the industry´s lowest cost solar & storage offering with also 150 million dollars cost savings and synergies in the administration.
In the offering Solarcity owners would get 0,110 Tesla shares from each Solarcity share. The merger needs approvals from the stakeholders & authorities, but it is expected to be in force during the last quarter of this year.
Tesla is to announce its second quarter interim report this Wednesday also. The company share closed up 1,8 % on Friday to 234,79 dollars in New York.