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Tesla and SolarCity Shareholders Approve Merger

November 18, 2016

Elon Musk has succeeded in combining two parts of his business empire, as investors in Tesla Motors and in the solar panel maker SolarCity agreed on Thursday to a merger.

Shareholders of each company voted at their respective meetings. But the question was always whether investors in Tesla would approve a takeover of the embattled solar company, which had been seen as a bailout of sorts.

But in the end, Tesla shareholders placed their bets on the billionaire entrepreneur.

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