Tesla Deal As Good As It Gets For SolarCity?

| About: Tesla, Inc. (TSLA)
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Stuff Elon Musk wants and stuff Tesla does correlated 1:1.

Verizon buys Fleetmatics for $2.4 billion.

Yahoo! stub up over 600% so far this year.

Welcome to the Solar Powered issue of M&A Daily


Tesla (NASDAQ:TSLA) is buying SolarCity (SCTY) in a $2.6 billion stock deal. SCTY holders get 0.1100 TSLA per share. The SolarCity special committee is working with Lazard (NYSE:LAZ). This deal is beneath the range that Tesla indicated earlier. However, this will probably be a sleepy go shop period; I do not anticipate any topping bids. For SolarCity, this deal is probably as good as it gets. The $0.18 arb spread does not offer much of an opportunity at a 2% IRR to a yearend close.


Verizon (NYSE:VZ) is buying Fleetmatics (NYSE:FLTX) in a $2.4 billion cash deal. FLTX holders get $60 per share. The target is working with Morgan Stanley (NYSE:MS).


Transocean (NYSE:RIG) is buying Transocean Partners (NYSE:RIGP) in a stock deal. RIGP holders get 1.1427 RIG per unit.


Gannett (NYSE:GCI) is preparing a formal offer for tronc (NASDAQ:TRNC) of over $15 per share.


The Fed approved the FirstMerit (NASDAQ:FMER) acquisition by Huntington (NASDAQ:HBAN).


Nichi-Iko filed their tender offer for Sagent (NASDAQ:SGNT); it expires August 26.


Avast filed their tender offer for AVG (NYSE:AVG); it expires August 31.


The preliminary S-4 has been filed for the Lions Gate (LGF) acquisition of Starz (NASDAQ:STRZA).


The Patriot (NYSE:PN) special committee agreed to consider an enhanced acquisition offer from Ebix (NASDAQ:EBIX).

Cash America

The S-4 has been declared effective for the First Cash (NASDAQ:FCFS) acquisition of Cash America (NYSE:CSH).


The second S-4 amendment was filed for the Range Resources (NYSE:RRC) acquisition of Memorial Resource (NASDAQ:MRD).


Thank you, Marissa. The Yahoo (YHOO) stub is up over 600% year to date. So far so good.


The preliminary proxy was filed for the Danone (OTCQX:DANOY) acquisition of WhiteWave (NYSE:WWAV). More to come in future editions of M&A Daily

Done deal.

  • KeyCorp (NYSE:KEY) closed its First Niagara (NASDAQ:FNFG) deal.
  • BBCN (BBCN) Wilshire (WIBC) closed.
  • Samsonite (OTCPK:SMSEY) closed its Tumi (NYSE:TUMI) buy.

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Disclosure: I am/we are long STRZA, YHOO, LNKD, EVER, LCI.

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