A PYMNTS Company

US: Tesla Clears Antitrust hurdle in $2.6 billion deal

By  |  August 25, 2016

Tesla Motors moved a step closer in its bid to buy SolarCity after federal regulators said the $2.6 billion deal doesn’t present antitrust concerns.

Tesla announced plans to purchase the solar panel installer earlier this month, and Reuters says the Federal Trade Commission quickly signed off “because the merging companies have few or no overlaps.”

SolarCity has come under pressure from rivals offering low-cost solar energy through large, utility-scale installations, and because some state governments have reined in subsidies that encouragedrooftop solar.

The deal was on a listing of proposed transactions that won quick approval because the merging companies have few or no overlaps.

Full Content: NPR

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.