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Tesla Offers $2.8 Billion For Solarcity In 'no Brainer' Deal For Musk


Ron Burgundy
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File photo of Elon Musk, chairman of SolarCity and CEO of Tesla Motors, speaks at SolarCityÕs Inside Energy Summit in Midtown, New YorkBy Nichola Groom and Paul Lienert LOS ANGELES/DETROIT (Reuters) - Elon Musk on Tuesday sought to build a clean energy powerhouse as his electric car maker, Tesla Motors Inc , made an offer to buy his solar installation firm SolarCity Corp in a stock deal worth as much as $2.8 billion. Tesla shares plunged more than 13 percent to $189.99 in extended trading - amounting to a loss in value of about $4.3 billion, or more than the value of the offer for the other company. Shares of SolarCity rose about 18 percent to $25.02.




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