Investing.com - Tesla Motors (NASDAQ:TSLA) said Monday it would buy solar panel installer SolarCity.
Electric carmaker Tesla will pay $2.6 billion in shares to acquire SolarCity.
Tesla chief Elon Musk is also chairman and a major shareholder in SolarCity.
Merged firm to sell solar panels, battery storage systems, electric cars under one brand.
SolarCity stockholders to receive 0.110 Tesla common shares per SolarCity share.